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Amro Partners delivered Salamanca’s first BREEAM Outstanding student residence, balancing historic preservation with cutting-edge sustainability. The 170-bed scheme retained its early 1900s façade while introducing a fossil-free, high-performance building envelope. Achieving EPC ‘A’, Fitwel 3 Stars and WiredScore Platinum, it reduces operational carbon by 88% and brings embodied carbon close to 2030 LETI targets, setting a new benchmark for sustainable living in Spain.

The CubeHouse is Amsterdam’s first hybrid-timber office building, developed on the last available plot in the South-Axis CBD. Designed as the future Dutch headquarters for BNP Paribas and Arcadis, the project combines structural innovation with ambitious ESG goals. Using 13,000 m³ of sustainable timber storing 9,000 tonnes of CO₂, the building minimises embodied carbon while targeting Paris-proof performance, BREEAM Excellent and WELL Gold. With a rooftop garden, shared mobility hub and smart building systems, CubeHouse sets a new benchmark for sustainable workplaces in the Netherlands.

a.s.r. real estate is advancing towards a net zero residential portfolio by 2045 through Paris Proof renovations. Guided by CRREM-aligned roadmaps, the Fund combines deep retrofits, renewable energy generation, and tenant engagement to reduce emissions and energy use. A successful pilot in Houten, now scaled across multiple dwellings, demonstrates how holistic, data-driven strategies can transform existing assets into future-proof, high-performance homes.

Nrep’s Ripple Residence is a residential development in Copenhagen’s Nordhavn district that explores the commercial viability of low-carbon construction. The project features timber as the primary building material, targeted use of upcycled components, and an integrated energy system combining geothermal, solar, and smart controls. It achieves embodied emissions of 250 kgCO₂e/m² and operational emissions in line with CRREM pathways until 2050. Supported by DGNB certifications and green financing, the project shows that low-carbon housing can align with evolving regulatory requirements while remaining commercially competitive.

Hearthstone Investments is supporting the transformation of a former coal mining site in South Yorkshire into a thriving, sustainable community. Using proprietary screening tools, the firm identified Waverley as a high-impact opportunity, acquiring energy-efficient homes that combine affordability with environmental performance. With strong local partnerships and a focus on place-making, the project delivers core returns while contributing to social value and long-term regeneration.

INREV responded to the consultation supporting the initiative, emphasising the importance of ensuring that support measures do not distort competition with private sector finance and that any benefits are equally accessible to all market participants.

INREV canvassed views from the membership to assess the dynamics and business-oriented implications for the industry. View our Market Insights and Sentiment and Valuation reports now. 

The Global Real Estate Fund Index (GREFI) is jointly produced by INREV, ANREV and NCREIF and measures the performance of non-listed real estate vehicles on a global scale.

Please send feedback to bert.teuben@inrev.org, daisy.huang@anrev.org, or ddierking@ncreif.org

The GREFI is an index showing the performance of non-listed real estate funds on a global scale. The GREFI is updated on a quarterly basis and is published 12 weeks following the quarter end.

The aims of the GREFI are to improve transparency of real estate as an asset class and to help our members make better informed investment decisions. As an industry, it is vital that we work towards being able to make robust global and intra-regional comparisons.

This initiative represents the integration of three member-driven non-profit organisations to meet the data collection and information needs of their expanding global activities, and to serve as the basis for further collaboration in the future.

Download the INREV’s Position Paper on the Scottish Government LBTT Property Investment Funds Consultation