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BIOMED REALTY RANKS NUMBER ONE IN 2024 ESG ACHIEVEMENTS
Recognized as Real Estate Sector Leader for Technology/Science, Ranking First in GRESB Peer Groups
BioMed Realty (“Company”), a leading provider of real estate solutions to the life science and technology industries, today provided highlights of its continued 2024 Environmental, Social and Governance (ESG) achievements.
BioMed Realty is a portfolio company within Blackstone’s Core+ Life Sciences Real Estate strategy, which achieved Real Estate Sector Leader status for Technology/Science as part of the 2024 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment—the leading ESG benchmark for real estate and infrastructure investments across the world. The Company’s submission achieved strong results across both the Management and Performance components of the GRESB Assessment, while earning 4 Star ratings in the Standing Investment and Development benchmark reports.
“BioMed Realty is focused on collaborating with our tenants to advance their ESG goals by promoting health, wellness, innovation, connection, and sustainability throughout our portfolio,” said Tim Schoen, CEO of BioMed Realty. “Our strong performance in the GRESB Real Estate Assessment demonstrates our team’s commitment to operating assets that meet the needs of our tenants and local communities, both now and in the future. By leveraging data-driven sustainability efforts, along with technology and automation, we differentiate our portfolio for prospective tenants and investors.”
BioMed Realty’s noteworthy accomplishments in environmental sustainability include:
- Expanding the use of renewable electricity across the Company's operating portfolio, including the implementation of on-site solar power at select California assets, with commercial operation set to begin in 2025. BioMed has also installed over 580 EV chargers in 2024, increasing the total to 1,401 across the portfolio.
- Implementing 189 energy-efficiency projects since 2016, including replacing HVAC cooling towers and implementing LED retrofits. These projects have collectively saved more than 40.7 million kWh of electricity. A notable example is the University Park campus, where the Company reduced energy consumption by more than 1.5 million kWh annually through booster pump replacements, optimizing various pressure resets and temperature controls, and implementing cutting edge SmartStack Technology to reduce laboratory exhaust airflow.
- Promoting health, wellness, and inclusivity throughout the entire project life cycle, with an emphasis on achieving healthy building certifications. BioMed is currently pursuing Fitwel Champion status, which recognizes companies that commit to using Fitwel at a portfolio scale.
- Collaborating with tenants to pursue sustainable development, including partnering with Bicycle Therapeutics to target BREEAM Excellent and WiredScore Gold certifications at the Portway Building (Cambridge, UK). The asset was fully renovated to modernize its lab and office space, while reducing its environmental footprint.
- Earning LEED Gold certification across five properties in 2024: Seaport Science Center (Boston, MA), Dexter Yard (Seattle, WA), Gateway of Pacific III (South San Francisco, CA), Emery Yards (Emeryville, CA), and 5505 Central (Boulder, CO). Of the 17.5 million square feet across the Company’s operating portfolio and in-process developments in the US, 47 percent is LEED certified or targeting future certification.
- Ongoing use of tenant satisfaction surveys across the Company's operating assets to strengthen tenant engagement, increase tenant satisfaction, and integrate feedback into future operations.
- Publicly sharing the Company’s ESG goals and policies for new construction and development, an added level of transparency that contributed to achieving a 4 Star rating in the Development Benchmark.
BioMed Realty’s ESG principles extend to its commitment to supporting research institutions, charities and non-profits within the communities where it operates. Several of the Company’s key partnerships and initiatives include:
- Expanding awareness to careers in science and technology for underrepresented communities, through the STEAM Career Exploration Program in collaboration with the City of Cambridge (MA), and the Company’s support of organizations such as the Science Club for Girls and Innovators for Purpose.
- Promoting healthcare innovation and groundbreaking research by supporting and providing leadership to the Salk Institute for Biological Studies in San Diego.
- Supporting CoreGiving, a leading non-profit focused on combating food insecurity for children and families in need, through employee volunteerism and financial support. The Company’s partnership with CoreGiving helps local hunger-relief organizations in more than 80 cities across North America, Europe, Asia and Australia.
- Partnering with Butterfly Pavilion to develop and enhance pollinator habitats at Flatiron Park in Boulder. This is Butterfly Pavilion’s first partnership with a life science and technology campus, and it involves pollinator-friendly habitats being implemented through the next several years.
To learn more about BioMed Realty’s ESG initiatives, visit: https://www.biomedrealty.com/values.
About BioMed Realty
BioMed Realty, a Blackstone portfolio company, is a leading provider of real estate solutions to the life science and technology industries. BioMed owns and operates high quality life science real estate comprising—as of June 30, 2024—16 million square feet concentrated in leading innovation markets throughout the US and UK, including Boston/Cambridge, San Francisco, San Diego, Seattle, Boulder and Cambridge, UK. In addition, BioMed maintains a premier in-process development platform with 2.5 million square feet of Class A properties in active construction to meet the growing demand of the life science and technology industries. To learn more about BioMed Realty, visit biomedrealty.com and follow the company on X @biomedrealty.
