Diversity, Equity & inclusion

We believe in the transformative power of diversity of thought

Join NAREIM to help benchmark and share real-time best practices, promoting inclusion, diversity and equity in the real estate investment management industry

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67%

Two-thirds of CRE firms in North America utilize DEI Committees, while 21% of firms in the region have dedicated DEI employees. Results out now for the 2021 Global Real Estate Survey

92% of commercial real estate firms globally adopt a DEI program or initiatives to improve DEI in the workplace.

 

The Global Real Estate DEI Survey is the industry’s first global collection of corporate best practices and employee demographics for commercial real estate. The Survey tracks gender, race/ethnicity and nationality across seniority and job functions in Asia-Pacific, Europe and North America as well as corporate practices in relation to DEI programs, recruitment, retention, training and development, inclusivity and pay equity.

In partnership with ANREV, INREV, NCREIF, PREA, REALPAC and ULI and conducted by Ferguson Partners, NAREIM has expanded past DEI Surveys to help create a true global benchmark for investment managers and the wider industry on DEI practices and demographics.

Key takeaways include:

  • Of the 92% of firms with a DEI program or initiatives to improve DEI, 47% of CRE firms have a formal DEI program and 45% of CRE firms have DEI initiatives and policies to improve diversity, equity and inclusion in the workplace.

  • According to the Survey, 25% of firms globally employed professionals solely dedicated to DEI. In Europe, that figure was 43% while in Asia-Pacific, 33% of CRE firms had dedicated DEI professionals. In North America, 21% of CRE firms had dedicated DEI professionals

  • Gender diversity: In the Asia Pacific region, men represent 53% of all full-time employees (FTEs) compared to 47% women. In Europe, men represent 62% of all FTEs compared to 38% for women. In North America, men represent 59% of all FTEs compared to 41% for women

  • Seniority diversity: Asia-Pacific CRE firms have the greatest representation of women in senior positions with women comprising 32% of all executive management positions and 26% of board positions. In North America, women represent 20% of executive management and 21% of board of directors roles, while in Europe women represent 16% of executive management and 14% of board roles.

  • Race/ethnicity diversity: In North America (77% of participants), 29% of FTEs are professionals of color. Insufficient data was collected in 2021 in relation to nationality for Asia-Pacific CRE firms and race/ethnicity for Europe CRE firms.

“The coming together of seven industry associations around the Global Real Estate DEI Survey is a testament to the prioritization of DEI across the whole of the commercial real estate industry," said Zoe Hughes, NAREIM CEO.

 

"This Survey is invaluable for CRE firms to understand and benchmark themselves against peers, but it is also about the sharing of ideas and the collaborative and inclusive spirit that is at the heart of DEI. As the Survey shows, there is no one size fits all approach to DEI. Only by working together and sharing ideas with one another, will we learn the DEI policies and practices that are impactful to our firms and industry. We are truly excited about this Survey and the impact it will have in the future and look forward to working with our partners for years to come."

We invite you to join us.

DEI initiatives at NAREIM

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DEI Survey

The Global Real Estate DEI Survey is the only corporate benchmark for diversity, equity and inclusion metrics and management best practices in CRE globally. The report covers more than 140 pages of individual data points, including, but not limited to:

  • DEI program structure, resources and ownership

  • Policies focused on recruitment, retention, training and development, inclusivity, tracking and accountability and pay equity

  • Employee demographics by gender, race/ethnicity and nationality, across seniority and job function

  • DEI hiring, promotion and departure trends year-over-year

The Survey, produced in partnership with ANREV, Ferguson Partners, INREV, NCREIF, PREA, REALPAC and ULI, collected more than 175 responses representing firms with 435,000 full-time employees and a total gross AUM of $2.4 trillion.

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resource & best practice library

Dedicated resource library for NAREIM members of best practices and materials related to DEI strategies and initiatives. Resources include both proprietary and external materials as well as topics such as:

  • Top 50 diversity partners used by real estate investment managers to build pipeline

  • Top 50 organizations and diversity mentoring programs managers donate money and sponsor employee participation in

  • Best practices relating to:

  • Pay equity transparency

  • Measuring DEI goals, progress and impacts

  • Training and certification

the resource library is open to nareim members only

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perspectives
on DEI

As part of the work of NAREIM's Inclusion & Diversity Committee, NAREIM has produced a series of interviews focused on investor perspectives on DEI.

 

Since early 2020, NAREIM has invited institutional investors to sit down and discuss their perspectives on diversity and inclusion and how they are working with investment managers to deliver lasting change for the industry. 

Interviews already published include:

  • Carnegie

  • Oregon and Texas ERS

  • CalSTRS and The World Bank

  • StepStone

  • LACERA 

read the investor perspectives here

NAREIM DEI committee

Chair: Kristin Renaudin, Chief Financial Officer, Stockbridge Capital 
Vice chairS: Reisa Bryan, Global Chief Operating Officer, Nuveen Real Estate 

Erick Harris, GC, Blue Vista Capital Management


Alexandra Williams, Director, Barings Real Estate

Chasity Boyce, Chief Diversity Officer, Barings Real Estate

Justinn Wheatley-West, HR Business Partner, BentallGreenOak
Jennifer Licciardi, Vice President, Head of Human Resources, Berkshire Residential
Megan Carver, CapRidge Partners

Dave Kutayiah, Managing Director, Head of Human Resources, Clarion Partners
Kathy Briscoe, Partner, Chief Capital Officer, Dermody Property

Tyler Scheppman, Senior Vice President, Dermody Property

Rachna Velamati, Vice President, Human Resources, Heitman

Deirdre Perez, Portfolio Manager, Invesco Real Estate

Deena Goodman, Director, Human Resources, PGIM Real Estate
Pat Bailey, CFO, Principal Real Estate Investors

Anne Peck, Director of ESG+R, TA Realty

Jillen Miller, Human Resources Coordinator, Waterton Associates

The NAREIM DEI committee is focused on three initiatives: The Global Real Estate DEI Survey; partnerships to expand recruitment pipelines; best practices and resources for members.