Entity Characteristics
Not Scored
The Entity Characteristics module identifies the reporting entity's attributes that remain constant across different reporting periods (year-on-year).
EC1: Entity Name
Base Score
Not Scored
Static
Validation
Evidence not required
Control dependent?
No
Reporting entity:
Assessment Instructions
Intent: What is the purpose of this indicator?
Identify the participating entity. The entity name will be used to identify the entity on the GRESB portal and will be displayed in the entity’s reports.
Input: How do I complete this indicator?
Complete all applicable fields. The organization name may be the same as the entity name.
Terminology
Entity name
Name of the entity for which the Assessment is submitted. In the case of listed funds, the entity name is the legal name of the fund, also used for identification on international stock exchanges. In the case of non-listed entities, the entity name identifies the investable fund or portfolio for which the Assessment is submitted.
Organization name
Legal name of the organization responsible for the overall management, governance and oversight of the entity. It may match the entity name.
Scoring
This indicator is not scored.
EC2: Nature of Ownership
Base Score
Not Scored
Static
Validation
Evidence not required
Control dependent?
No
Nature of ownership:
Assessment Instructions
Intent: What is the purpose of this indicator?
Describe the nature of ownership of the participating entity.
Input: How do I complete this indicator?
Select one of the options and select all applicable sub-options.
If the entity is listed on a stock market or index, select "public" from the dropdown. If the entity is privately owned, select "private".
If the entity has selected "private", please select whether the entity is independently owned or owned by another equity organization.
Other: State the other type of investment vehicle. Ensure that the other answer provided is not a duplicate of the selected option above.
Terminology
Close-end fund
An investment vehicle with a fixed amount of capital. Limited liquidity, with the redemption of units provided for at the end of the life of the vehicle.
Club deal
An investment vehicle or structure with generally a limited number of investors investing in a common strategy. Typically, investors have more discretion and control than in a typical fund, and have veto rights over major decisions.
Core
An entity that includes a preponderance of core attributes; the entity as a whole will have low leasing exposure and low leverage. A low percentage of non-core assets is acceptable. As a result, such portfolios should achieve relatively high-income returns and exhibit relatively low volatility. Low-risk entities that invest in stabilized, income producing property, which is typically held for 5 to 10 years and have limited acquisition/disposal activity after the fund has been invested. Assets in core funds are characterized by stable income returns with less capital growth. A Core Plus fund invests in similar style assets but adopts a more aggressive management style. Core Plus entities are considered Core for the purposes of the GRESB Assessment.
Debt
A fund or similar entity that has been set up for the purposes of issuing or investing in loans or bonds.
Direct investment
The purchase of a controlling interest or a minority interest of such size and influence that active control is a feasible objective.
Fund
Terms used to describe a structure where at least three investors’ capital is pooled together and managed as a single entity with a common investment aim. For the purposes of these definitions, these terms can be used interchangeably.
ISIN
International Securities Identification Number. ISINs are assigned to securities to facilitate unambiguous clearing and settlement procedures. They are composed of a 12-digit alphanumeric code and act to unify different ticker symbols, which can vary by exchange and currency for the same security. In the United States, ISINs are extended versions of 9-character CUSIP codes.
Joint Venture (JV)
A vehicle where at least two parties share a common investment objective. Control over significant risk management decisions is not transferred to an external manager, but is exercised by members in the venture.
Opportunistic
An entity of preponderantly non-core investments that is expected to derive most of its return from appreciation/ depreciation and/ or which is expected to and may exhibit significant volatility in returns. This volatility may be due to a variety of characteristics, such as exposure to development, significant leasing risk, high leverage, or a combination of moderate risk factors. High-risk entities that invest in greater yielding assets; for example, developments without pre-leasing, properties involving significant repositioning or that are distressed, and large portfolio acquisitions, purchased to be re-packaged and sold in smaller lot sizes. Opportunity funds generally maintain higher leverage limits and have shorter holding periods for assets.
Open-end fund
An investment vehicle with a variable and unlimited amount of capital. Investors may purchase or redeem units or shares from the vehicle as outlined in contractual agreements.
Separate account
SMAs, also referred to as managed accounts, wrap accounts or individually managed accounts, are portfolios managed exclusively for the investor according to their investing and tax preferences and requirements. The investor owns the underlying assets directly, unlike a mutual fund.
Special Purpose Vehicle (SPV)
Subsidiary created by a parent company to isolate financial risk. Its legal status is of a separate company, with its own balance sheet.
Non-listed entity
An entity that is not publicly listed or traded on a recognized stock exchange.
Listed entity
A company that is publicly listed and traded on a recognized stock exchange, such as Nasdaq or NYSE. Also known as "listed entities”.
Value Added
An entity that generally includes a mix of core investments and non-core investments that will have less stable income streams. The entity as a whole is likely to have moderate lease exposure and moderate leverage. As a result, such entities should achieve a significant portion of the return from appreciation/ depreciation and are expected to exhibit moderate volatility.
Moderately higher-risk entities that typically engage in “forms of active management, such as tenant lease-up, repositioning or redevelopment, to generate returns through adding value to the investment properties”.
Scoring
This indicator is not scored.
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