Leaders In The Light Shine At REITWorld

NAREIT, in collaboration with ENERGY STAR, honored several of its member companies for demonstrating superior and sustainable energy-use practices. Earning this year's "Gold Award" was Thomas Properties Group (Nasdaq: TPGI).

"We have undertaken to ‘green' our entire portfolio of 15 million square feet," said James Thomas, chairman, president and CEO of Thomas Properties. "Everything that we do forward is going to be ‘green.'"

The "Silver Award" was shared by HCP, Inc. (NYSE: HCP), Vornado Realty Trust (NYSE: VNO), and Wells Real Estate Funds. The "Bronze Award" was a tie between Hines REIT, Inc. and Simon Property Group (NYSE: SPG). Honorable Mention was given to AMB Property Corp., Macerich, and ProLogis (NYSE: PLD).

"Even in challenging market conditions, companies are showing that a focus on sustainability and energy efficiency is not only a positive for the company and the environment, but also for shareholders," explained NAREIT Executive Vice President for Finance and Operations Sheldon M. Groner. "The companies that are being honored have implemented innovative and effective measures to improve portfolio-wide energy performance."

Groner said special recognition goes to Simon Property Group, which has earned a "Leader in the Light" award for five consecutive years, dating back to the award's inception in 2005.

The "Leader in the Light" Awards were presented during REITWorld 2009: NAREIT's Annual Convention in Phoenix. This year's judges were: David Stanford, RealFoundations; Maria Vargas, U.S. Environmental Protection Agency; and, Mark Vorreuter, Cornell University.

Source: NAREIT