Stoneweg US Drives 33% GRESB Score Improvement for Varia US Properties

ST. PETERSBURG, Fla., Oct. 19, 2023 /PRNewswire/ -- Stoneweg US LLC, a multifamily real estate investment and asset management firm, is pleased to announce the remarkable success of Varia US Properties AG, a Swiss publicly traded multifamily real estate fund in the 2023 Global Real Estate Sustainability Benchmark (GRESB) assessment. As the asset manager for the Varia US portfolio, Stoneweg US plays a pivotal role in guiding and supporting Varia US' sustainable practices, driving the achievement of a 33% year-over-year improvement in the firm's GRESB score.

The annual GRESB assessment, shaped by the collective vision of investors and industry stakeholders, serves as a compass for measuring sustainability performance in asset investments. The rating aligns with international reporting frameworks, goals and emerging regulations, providing critical insights for the real estate industry's journey toward sustainability.

In the 2023 assessment, the Varia US portfolio demonstrated significant progress across Environmental, Social, and Governance (ESG) dimensions when compared to its 2022 rating:

• Benchmark Report Score: 83/100 (2022: 64/100),
  Peer Average: 79/100 (2022: 79/100)
  
  
• GRESB Model:

               ?  Management Score: 30/30 (2022: 27/30),
                   Benchmark Average: 27/30 (2022: 26/30)
               ?  Performance Score: 53/70 (2022: 37/70),
                   Benchmark Average: 51/70 (2022: 44/70)

• ESG Breakdown:

               ?  Environmental: 45/62 (2022: 29/62),
                   Benchmark Average: 43/62 (2022: 37/62)
               ?  Social: 18/18 (2022: 18/18),
                   Benchmark Average: 17/18 (2022: 17/20)
               ?  Governance: 20/20 (2022: 17/20),
                   Benchmark Average: 19/20 (2022: 18/20)

• Peer Comparison: Ranked fourth out of 10 (2022: eighth out of 11),
  USA, Residential, Multi-Family, Listed

This remarkable improvement in the GRESB assessment reflects Varia US' unwavering commitment to enhancing the quality and efficiency of its properties, subsequently reducing operating costs and elevating the market valuation of its assets over the long term. Through the efforts of its asset manager Stoneweg US, Varia US acquired and/or achieved four Green Globes^® sustainable building certifications and eight ENERGY STAR^® building performance certifications in 2022. Further enhancing their ESG efforts, Stoneweg US, representing Varia US, signed the United Nations-supported Principles for Responsible Investment (PRI) in spring 2023 and initiated reporting in line with its principles.

In 2023, Varia US embarked on the installation of solar projects at two of its multifamily rental communities, one in Tucson, Arizona, and one in Fayetteville, North Carolina. Additionally, the company initiated a programmatic heating, ventilation, and air conditioning system replacement pilot, introducing energy-efficient heat pump systems at multifamily rental communities located in Tucson and Phoenix, Arizona. This innovative pilot program aims to blend building performance data collection with comprehensive building attribute inventory to proactively drive improvements that align with the company's environmental goals and enhance cost-effectiveness.

Thomas Stanchak, Director of Sustainability at Stoneweg US, Varia US' asset manager, added: "Our 2023 assessment result is a testament to the effectiveness of our ESG strategy and the dedication of our team. We are thrilled with our improved ranking, and it propels us toward becoming leaders in sustainability."

Patrick Richard, Chief Executive Officer and Founder of Stoneweg US and Executive Member of the Board of Directors of Varia US, commented on the achievement: "We are immensely proud of the substantial progress reflected in our 2023 GRESB assessment compared to the previous year. This underscores our focus on data collection, the efficacy of our ESG strategy, and outcomes achieved. The remarkable result is a source of great motivation for our entire team, inspiring us to remain steadfast in our pursuit of long-term ESG goals. Our leap from the eighth position in 2022 to the fourth position in 2023 peer rankings signifies our trajectory as frontrunners."

For the complete "GRESB Real Estate Benchmark Report 2023" and more insights into Varia US' ESG strategy and initiatives, please visit website at www.stonewegesg.us. To learn more about GRESB, visit www.gresb.com.

About Stoneweg U.S., LLC: Located in downtown St. Petersburg, FL, Stoneweg US has a portfolio valuation of $2.1 Billion comprised of ~12,000 units. The firm leads the industry in optimizing assets through ESG considerations, climate resilience, and value-add strategies, investing in and developing sustainable communities to deliver healthy returns and elevate resident experiences. For more information, please visit www.stoneweg.us.

Contact: Tara Kassal
Ascent
917-406-2162
[email protected]