Thomas Properties Group Inc. (NASDAQ: TPGI), a leader in sustainable and green building practices for the commercial real estate industry, has been ranked #1 in the Americas in the Office Sector for environmental, social, and governance performance for the second consecutive year in the Global Real Estate Sustainability Benchmark (GRESB) Report. In addition, TPGI has been honored by the National Association of Real Estate Investment Trusts (NAREIT) with its Leader in the Light Award in the small cap office category.
In September, the GRESB released its 2012 GRESB Report, which is based on sustainability data gathered from almost 450 real estate owners around the world. This report provides aggregate information for 36,000 properties, representing $1.3 billion in assets. “For Thomas Properties Group to earn the top place in the Americas in the Office category for the second year places them among the global leaders in sustainability,” said Dr. Nils Kok, Executive Director of GRESB.
The NAREIT Leader in the Light Award, awarded this year based upon the GRESB survey, honored NAREIT member companies that have demonstrated superior portfolio-wide energy use practices and sustainability initiatives.
“We are proud to have achieved these important rankings that recognize our company’s long-standing commitment to sustainable practices across our property portfolio. Our sustainability initiatives strive to save energy and resources, achieve high performance and reduce operating costs,” said Randall L. Scott, Executive Vice President of Thomas Properties Group. “Our accomplishments in this area are a reflection of our top-quality property managers who are constantly looking to implement building operating strategies that make our buildings more efficient and sustainable.”
About Thomas Properties Group
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management and leasing activities. For more information about Thomas Properties Group, Inc., please visit www.tpgre.com.
The Global Real Estate Sustainability Benchmark Foundation is an industry-led organization committed to rigorous and independent evaluation of the sustainability performance of real estate portfolios. GRESB works in tandem with institutional investors and their portfolio managers to identify and implement sustainability best practices in order to enhance and protect shareholder value. The Global Real Estate Sustainability Benchmark is endorsed and actively used by 35 of the world’s leading institutional investors, rewarding actions and measurable performance. GRESB’s global membership includes more than 35 institutional real estate investors and investment managers, all major real estate industry associations, and a large number of consultants and product vendors.
Forward Looking Statements
Statements made in this press release that are not historical may contain forward-looking statements. Although TPGI believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from TPGI’s expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services (including interest rates), the availability of credit and equity investors to finance commercial real estate transactions, our ability to enter into or renew leases at favorable rates, which can be impacted by the financial condition of our tenants, risks associated with the success of our development and property redevelopment projects, general volatility in the securities and credit markets, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management’s expectations, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2011 and our subsequent Form 10-Q quarterly reports, each of which is filed with the Securities and Exchange Commission. TPGI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Diana Laing, Chief Financial Officer
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