GBFC Research Agenda

Written Work Product

The Consortium will complete six written reports and further refine its web based resources in three phases:

Phase 1:  Underwriting Sustainable Properties: A Fiduciary Approach

In this phase we will produce the primary work product of the Consortium focused on analytic methods and process for underwriting sustainable properties from a financial/fiduciary perspective.  This report will present a framework and approach to guide underwriting and valuation of sustainable properties.  We will address key issues including:

• The importance of the investment context to financial analysis;
• Sustainable definitions and underwriting;
• The role of Cost Benefit analysis in financial analysis;
• A fundamental financial model for underwriting sustainable properties;
• The role of value and valuation in decision-making;
• Integrated design and the service sector;
• Non-financial model considerations in sustainable property underwriting.

Phase 2:  Special Reports on Sustainable Underwriting

In our Second Phase, we will prepare five special sustainable underwriting reports that go into more depth on some of the most important issues in underwriting sustainable properties:

1. Energy Efficiency Investment
2. Space User Productivity
3. Space User Health
4. Government Regulations and Incentives
5. Enterprise and Business Unit Tenant Demand

While written reports on other special topics are not planned at this time, as resources permit, we will be upgrading our web based Research Library and Industry Resources on many key topics to improve access to the most important sites and information based on an organizational and searching framework consistent with real estate based underwriting and valuation needs.

Phase 3:  Special Considerations by Property Type

Each property type has features/elements and underwriting considerations which are best understood and presented in a property type report.  While our written reports will address property type considerations, we do not plan property specific written reports at this time.  However, we will be upgrading our web based Research Library and Industry Resources on many key topics to improve access to the most important sites and information on a property specific basis.

Improving Sustainable Property Investment Decisions

With the written product complete, the Consortium will focus on dissemination of its underwriting and valuation methodologies.  Key target audiences include corporate real estate executives and facilities managers, investor/landlords, developers, lenders, appraisers, and tenant rep brokers.  Secondary targets include governments and other policy-makers working to improve the transformation of the industry through regulation and incentives for private sector participants.  A third target group will be other real estate service providers including engineers, architects, builders, consultants and others interested in improving communication with capital providers.

Key activities will include:

1. Management of finance-investment focused internet resources on www.GreenBuildingFC.com.
   
   
2. Response and assistance to high volume of phone inquiries.
   
   
3. Speeches and presentations at conferences, seminars, workshops.
   
   
4. Participation and more substantive collaborations with national/international organizations working to improve decision-making/break down investment barriers (Provide financial/valuation perspective often needed in these efforts).
   
   
5. Assist various trade-groups and others in preparation of more refined and targeted publications, teaching materials, underwriting guides, etc. for key target audiences—recognizing need for more strategic (shorter publications) and more operational (more detailed documentation) depending on the audience.
   
   
6. Additional work on creative financing, performance contracting, leasing and related solutions to the challenges of existing buildings and split incentives.
   
   
7. Participation on advisory boards and other positions that assist in promotion of Consortium objectives.

Click Here for a PDF of our 2008 Operations Plan.

Please Contact Us directly for further information on our research activities.