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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.

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

Heike Schmitz, Partner from Herbert Smith Freehills Kramer, presented on the growing relevance of Impact Investing. She covered the key elements and evolution of impact investing and explored current regulatory developments. The session included case studies, presented by John Levy from Franklin Templeton Real Asset Advisors and Marleen Bekkers from PATRIZIA Global Partners, illustrating practical applications of impact investing strategies.