Green Underwriting Standards
Posted: December 10th, 2008 | Author: mfguide | Filed under: Finance, Regulations | 2 Comments »Despite actively looking for these over the summer, I somehow missed the release of the National Green Building Investment Underwriting Standards.
The product of over 18 months’ work, and developed using ANSI-standards, the heavy lifting was done by (among others) Dan Winters at Evolution Partners, Mario Silvestri at Wachovia, and Steve Hoffman of Hoffman & Associates. Their work was backed by a blue ribbon collection of banks (if there is such a thing), NGOs, institutional investors, and governments. The project’s goal was to provide a financial context for various green and sustainable building initiatives. Designed to recognize increasing utility costs, tenant preference, and potential regulatory pitfalls, the Capital Markets Partnership “Green Score” should be used as an overlay within the existing underwriting framework.
More information is available in the actual standards and via Dan’s summary of the project, which appears in the 3Q 2008 Korpacz Real Estate Investor Report.
With college football taking a brief hiatus, I’ll try and read up on the standards and provide some additional feedback.
Hi -
Just saw the recent post – wanted to let you know that the Standards are now available through the American National Standards Institute – there is a link on the home page of CapitalMarketsPartnership.com
Thanks for your kind words – it was indeed a lot of heavy lifting!
Dan: Thank you for stopping by and for sharing the final version of your work. I look forward to reading it in greater detail over the holidays.
Here’s the home page Dan cites: http://capitalmarketspartnership.com/
and here’s the ANSI store where you can purchase the underwriting standards:
http://webstore.ansi.org/FindStandards.aspx?SearchString=&SearchOption=1&DeptID=3144&PageNum=1