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Green Realty Trust: Nation’s First Green REIT is on the Horizon

February 06, 2008  |  from greenbuildingsNYC

The prospects for the first completely green Real Estate Investment Trust, or REIT, are closer to becoming reality. A well-known pioneer in the commercial real estate industry has registered an offering with the SEC for a REIT called Green Realty Trust, Inc. As reported first by CoStar Group, Rob Hannah, CEO and co-founder of TSG Real Estate, a Chicago firm, has made what appears to be the first foray into an all-green REIT. Green Realty Trust has devised an investment strategy that aims to meet the need of increasing demand by commercial users and tenants for green standards by increasing the supply of green buildings for lease. The REIT has set up a Green Advisory Council made up of industry experts that will provide analysis on possible acquisitions. According to the CoStar article, Hannah plans to focus the REIT’s acquisition efforts on existing buildings rather than new construction to try and narrow the list of direct competitors.

Filed: Green-Construction