> For the complete documentation index, see [llms.txt](https://guides.gresb.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://guides.gresb.com/completingassessments/data/asset-analysis/asset-benchmarking.md).

# Asset Benchmarking

Formerly REAL Benchmarks

## Introduction

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For real estate fund managers and listed companies, asset-level performance data can be a key component to making strategic decisions across a portfolio. Unfortunately, far too many managers suffer from significant gaps in building-level data and lack a sufficiently granular benchmark to truly compare their assets’ relative performance against.

GRESB’s Asset Benchmarking (formerly called REAL Benchmarks) is a private dashboard for real estate managers and companies to delve into the energy and GHG emissions data of all assets within their portfolio, allowing for detailed analysis of how each asset contributes to the portfolio’s overall performance.

It is available year-round. Learn more below.
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<div data-with-frame="true"><figure><img src="https://1003802410-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FLeIqEQuq8sE79mOd8GRV%2Fuploads%2FpmdWyryiC7wMkSwRG4lu%2Fimage.png?alt=media&amp;token=efabdf4f-9c61-43e5-b784-4640c082baa8" alt="" width="188"><figcaption></figcaption></figure></div>
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{% hint style="info" %}
**New in 2025!**

New performance thresholds for the top 15% and 30% of assets — along with ASHRAE thresholds — have been introduced to support deeper insight and EU Taxonomy alignment.
{% endhint %}

<details>

<summary>What does <strong>Asset Benchmarking</strong> offer?</summary>

**Asset Benchmarking** shows users exactly which assets are under- or over-performing against peers, and by how much, within GRESB’s dataset of 150,000+ real assets.

It helps managers and companies understand which assets need additional investment in data collection.

<figure><img src="https://1003802410-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FLeIqEQuq8sE79mOd8GRV%2Fuploads%2FN1nHTBgPHkFcPa8h7cu8%2Fimage.png?alt=media&amp;token=905fa0b3-a03a-4f72-95a0-d04509837e75" alt=""><figcaption></figcaption></figure>

Regardless of what type of assets the entity holds or where they are located, Asset Benchmarking allows users to filter by property type, location, and operational control to view detailed energy and GHG data by cohorts and better understand the projected GHG performance of those assets against decarbonization pathways such as CRREM.

<figure><img src="https://1003802410-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FLeIqEQuq8sE79mOd8GRV%2Fuploads%2Fsu4YDZOHHAyRZWGZ9H1R%2Fimage.png?alt=media&amp;token=924cba21-c063-4e8b-ac35-b1b694a57dad" alt=""><figcaption></figcaption></figure>

</details>

<details>

<summary>How does it work?</summary>

Asset Benchmarking can compare the known data points of an asset – like floor size, location, and specific property subtype – to provide a highly representative **estimation** of its energy and GHG emissions.&#x20;

**The dataset behind the benchmarks**

Asset Benchmarking draws on the world’s most extensive real asset sustainability dataset, covering 15+ years of validated sustainability data collected through the GRESB Real Estate Assessment. This spans over 150,000 real assets across 41 property types.

That data is reported directly by investor-owned portfolios and independently validated for completeness and accuracy — with roughly 75% of portfolios externally assured or verified. The result is real, comparable performance data, not a third-party estimate or modeled proxy, giving capital allocators a credible, common basis for decision-making.

**What your assets are compared against**

Each asset can be positioned against three separate reference points:

* **GRESB benchmarks** — the median and percentile distribution for the relevant location and property sub-type combination, so you can see whether an asset sits above or below the benchmark and where it falls in the distribution.
* **CRREM decarbonization pathways** — whether an asset's intensity is aligned with, or drifting from, its target trajectory.
* **ASHRAE 100** — comparison against the efficiency standard.

​Results can be filtered by entity, asset, reporting year, property sector, type and sub-type, and by region, sub-region, and country.​

**Where estimated figures come from**

Where reported energy data is incomplete, Asset Benchmarking applies the **GRESB Estimation Model (GEM)**, which produces estimates whether you hold full, partial, or no data for an asset. Reported energy is converted to GHG emissions using electricity and fuel emission factors, and estimated values carry a **PCAF data quality score of 2**.​Data coverage is displayed alongside every metric, so it is always visible how much of a result rests on reported versus estimated data.​

Read more about [GRESB's Estimation Model](https://guides.gresb.com/completingassessments/data/asset-analysis/gresb-estimation-model).

</details>

<details>

<summary>When is it available?</summary>

The Asset Benchmarking dashboard is **available for purchase and usable year-round**. It is automatically updated when data is edited in the GRESB Portal.

**When benchmark values update**

Your own asset data appears in the dashboard as soon as you edit it in the GRESB Asset Portal. The GRESB benchmark values you are compared against work differently: they are published once a year, when final Real Estate Assessment results are released.

Each data year has its own benchmark. Until the benchmark for a data year has been published, assets in that year are compared against the most recently published benchmark. When the new benchmark is published, those comparisons update, so benchmark values, your position against them and any thresholds shown may change even though your own asset data has not.

Where GRESB refines its estimation methodology, earlier data years are recalculated on the current method so that comparisons within the dashboard stay consistent year on year. A benchmark figure you recorded previously may therefore differ from the one shown today.

If you are using the dashboard for external or annual reporting, record the date on which you took the figures.

</details>

## Frequently Asked Questions

<details>

<summary>Who can see my asset-level data in Asset Benchmarking?</summary>

The dashboard is available to real estate fund managers only. Individual asset-level data is the sole property of the fund manager. GRESB Investor Members cannot see or request access to the dashboard via the GRESB Portal.

</details>

<details>

<summary>How does GRESB use my asset-level data outside of Asset Benchmarking?</summary>

GRESB uses aggregated asset-level data to create meaningful benchmarks and to power estimation tools. Data relating to individual assets is not shared with any party.

</details>

<details>

<summary>Can I see all of my assets in the dashboard?</summary>

The Asset Benchmarking dashboard will display all Standing Investment assets available in the Asset Portal with valid energy data.

</details>

<details>

<summary>Can I still use the Asset Benchmarking dashboard if I'm missing energy data?</summary>

Yes. Where energy performance data is missing or incomplete, the Asset Benchmarking dashboard provides estimates powered by the [GRESB Estimation Model.](/completingassessments/data/asset-analysis/gresb-estimation-model.md)

</details>

<details>

<summary>How are the benchmark values in Asset Benchmarking constructed?</summary>

The benchmark values in Asset Benchmarking are constructed using the same methodology and asset-level data as the one used for the benchmarking of performance metrics in the GRESB Real Estate Assessment. Only assets with 100% data coverage and a vacancy rate of no more than 20% are included in the benchmark.

First, an attempt is made to construct a benchmark by grouping assets within the same Property Sub-Type and located in the same Country that meet the criteria. If there are not at least 20 values from 5 distinct reporting entities, the Property Sub-Type classification and then the Country specificity are gradually decreased. For example, the Property Sub-Type becomes Property Type and then Property Sector. Then the specificity of the Country is decreased to Sub-Region, Region, Super-Region, and Global.

</details>

<details>

<summary>Why has the estimated GHG intensity of my Swedish, Finnish, Norwegian or French assets changed?</summary>

From the 2026 Assessment, GRESB uses published national emission factors for district heating and cooling in these four countries, rather than estimating them from each country's electricity factor. Where district heating is a large share of an asset's energy use this raises its estimated emissions, most noticeably in Sweden and Norway. The energy data itself is unchanged; only the conversion into emissions has changed. See the GRESB Estimation Model for the factors and their sources.

</details>

<details>

<summary>What else can I expect from Asset Benchmarking in the future?</summary>

The initial version of Asset Benchmarking focuses on providing estimation and benchmarking capabilities at the asset level for energy and GHG. GRESB will continue to update and enhance Asset Benchmarking with more features in the future.

</details>

{% hint style="info" %}
[Contact us](mailto:info@gresb.com) to request a live demo.
{% endhint %}


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