Benchmark Report: Health Drives Value
New Data Indicates Prioritizing Occupant Health Drives Real Estate Value
FITWEL CHAMPION
QuadReal
Health Drives Value in Real Estate
The Center for Active Design, in collaboration with QuadReal Property Group, is excited to release a new publication, Health Drives Value in Real Estate. The benchmark report features findings from an analysis of 60 QuadReal properties pointing to the positive outcomes that health and wellbeing strategies have on tenant satisfaction and financial outcomes. Through data derived from Fitwel scorecards, select property financial metrics across portfolio asset types, and tenant and resident survey results, the groundbreaking benchmark study begins to establish that healthy building strategies do not only improve human health—they drive occupant satisfaction and financial outcomes.
“Demand for healthy buildings has never been higher and, now, the case for investing in them is even stronger. This research makes clear the value of benchmarking to transform the information about a portfolio into a pathway that owners and investors can act on to plan future investments. At scale, this will solidify health-promotion interventions as best practices across the real estate sector.”
— Joanna Frank, President and CEO of the Center for Active Design, operator of Fitwel
Key Takeaways
Four key findings emerged from this analysis:
Fitwel score drives Net Promoter Score.
As the Fitwel score for a property increases the median score for a property recommendation also tends to increase - demonstrating the value of broad investments in health.
Location drives residential rent.
Residential projects that satisfy Fitwel location strategies are associated with higher rent per square foot - more evidence of the value of walkable places with plenty of amenities.
Operations drive Net Promoter Score.
Projects that implement Fitwel operations strategies are associated with a higher median property recommendation score - evidence that occupant satisfaction goes beyond tenant amenities.
Healthy food access drives Net Promoter Score.
Projects that implement Fitwel healthy food access strategies are associated with a higher median property recommendation - a major opportunity as these are the least implemented strategies.
“One of the QuadReal team’s sustainability goals is to create healthy environments so our tenants and residents can flourish. From the start, we believed that investing in best-in-class operations and amenities would make healthier spaces. This aligns with our commitment to being a Responsible Company. Thanks to our collaboration with CfAD, we have found a clear correlation of a higher Fitwel score with a greater willingness of occupants to recommend the building to their friends and colleagues. This reinvigorates our conviction to invest in healthy buildings and benchmark wellness more broadly in our portfolio.”
— Jamie Gray-Donald, Senior Vice President of Sustainability & EHS, QuadReal Property Group
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About the Authors
The Center for Active Design is the leading non-profit organization using design to foster healthy and engaged communities. We apply our multidisciplinary expertise to empower decision makers with research and technical assistance that lead to measurable outcomes.
The Center for Active Design also maintains the evidence-based standard for Fitwel, the world’s leading platform for certifying healthy buildings, and conducts the objective third-party assessments that lead to certified Fitwel projects.
QuadReal Property Group is a global real estate investment, operating, and development company headquartered in Vancouver, British Columbia. Its assets under management total $67.1 billion across Canada, the U.S., Europe, and Asia Pacific. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest.
Take the next step by benchmarking your portfolio with Fitwel to optimize buildings and communities to promote the health, safety, and wellbeing of your occupants, the first step is to measure where your portfolio stands today. Learn more about how you can assess your portfolio by downloading the Fitwel Benchmarking Brochure.