The Hines European Core Fund (HECF) published its fourth annual ESG review which details the fund’s ESG vision and approach. HECF acquires and manages a diverse portfolio of real estate assets across Europe and is committed to taking action on ESG issues to ensure that buildings meet present day needs and are able to remain resilient into the future.
In 2020 HECF was awarded by GRESB, the leading Sustainability benchmark, as a European Sector Leader, having achieved this recognition for the last four consecutive years.
“HECF continues to provide strong investment returns since inception and we believe this demonstrates the fund’s ability to deliver both strong financial and ESG performance. In this report we provide insight into our net zero carbon approach, our social stakeholder engagement programs and introduce our initiatives to address climate and transition risks,” said Fund Manager Daniel Chang.
Inaugural asset reviews for the Hines European Value Fund 2 (HEVF 2) and BVK Highstreet Retail Europe Immobilienfonds (BVK Retail Mandate) have also been published.
HEVF 2 is a Luxembourg-domiciled investment fund sponsored by Hines. It pursues active asset level value creation targeting over €1 billion of equity commitments. The Fund was launched at the end of 2019 and, while still at an early stage of its life cycle, has acquired or contracted six assets in four European countries: Germany, Italy, Spain and the UK. The Fund is currently prioritizing logistics, residential and mixed-use schemes with a focus on refurbishments.
“The events of 2020 have deeply affected our industry and accelerated the existing trend for all stakeholders to push ever-increasing expectations of health, wellness and sustainability across our buildings and investment vehicles,” said Fund Manager Paul White. “As a value-add strategy fund, HEVF 2 is in the fortunate position of setting out to create and renew buildings, to meet evolving market demands. In this report, we aim to give you an overview of our ESG plans and activities in the fund and its portfolio so far.”
The BVK Retail Mandate is a German investment fund sponsored by Hines. The investment strategy targets core, core plus and value-add high street retail assets across Europe. Since its launch in 2015, the Fund has acquired eleven assets and sold two. Today, the Fund comprises investments in seven cities in five European countries: Denmark, France, Italy, Spain, and the UK. The inaugural report illustrates recent progress and provides an overview of the expanded BVK Retail Mandate ESG strategy.
Fund Manager Peter Epping said, “At Hines we have a longstanding commitment to improving the built environment to benefit both people and the planet. For the BVK Retail Mandate, we have made important progress over the course of 2020, setting out the foundations of our ESG strategy by systematically measuring and reducing the environmental impact of our buildings and creating lasting positive change for the communities we serve.”
For a more detailed picture of each fund’s 2020 performance, visit our Reports page.