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Grosvenor Marks Successful 2022 with Development Activity, New Appointments and ESG Initiative Progress Throughout US and Canada


WASHINGTON, Feb. 2, 2023 /PRNewswire/ -- Grosvenor, a privately held property owner and developer with a 70-year track record in North America, celebrated another successful year and continued its growth, as the company announced several new developments, acquisitions and financing transactions throughout 2022.

The company announced new leadership appointments and key hires, and continued to make headway on its critical ESG goals.

"Interest rate increases through 2022 created a rapidly changing environment for us to operate in.  Fortunately, our conservative financial planning provided a solid base of long-term low rate debt which helped faciliate new development and acquisition activity early in the year,"  said Steve O'Connell, CEO of Grosvenor's North American property business. "As we navigate the potential recessionary environment ahead, it's motivating to look back over our 70 years in North America to see the opportunities that we have generated in prior cycles at times like these."

Grosvenor company highlights for 2022 include:  

Development and Investments:

·  Grosvenor secured approvals for a Metro Vancouver area development that will transform a 7.9-acre site in Burnaby into a pedestrian-friendly, low carbon mixed-use community with approximately 4,000 new homes and 200,000 sq. ft. of commercial space.

Financing:

New Hires/Promotions:

ESG Initiatives:

·  Grosvenor increased its ratings in the 2022 Global Real Estate Sustainability Benchmark (GRESB®) Real Estate Assessment for both its Development and Investment activity, exceeding benchmark averages in Leadership, Policies, Reporting and Stakeholder Engagement and earned a 91/100 overall Development ranking, eleven points above industry peer average of 80.

·  Grosvenor was awarded Best Corporate Responsibility Program by NAIOP DC and continued to partner with and support numerous charitable organizations across North America, granting over $600,000 across Washington, D.C., San Francisco and Vancouver, BC.

Awards/Recognition:

Grosvenor has operated a diversified real estate business in North America since 1952. As of December 31, 2021, the Company had assets under management of USD$3.6bn, including 74 high-quality properties, and is executing on a USD$4.5bn* proprietary development pipeline across its active markets. Consistent with the firm's farsighted approach to ownership and development, Grosvenor values long-term partnerships; across their nine active capital partners, the average relationship is 20 years.

Grosvenor signed the World Green Building Council's Net Zero Carbon Buildings Commitment in 2019 and has publicly reported its annual consumption and reduction values for 15 years.

*As at Q2 2022.

Follow us on
Twitter: @GrosvenorGRP
LinkedIn: Grosvenor

Instagram: ThisisGrosvenor

For more information, please contact:

Great Ink Communications
Tom Nolan, Rick Van Warner, Eric Waters
+1 212-741-2977
[email protected]  

SOURCE Grosvenor


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