NEW YORK--(BUSINESS WIRE)--
(NYSE: PGRE) (“Paramount”) today announced that One Front Street and 50 Beale Street have just received the coveted LEED Platinum certification, the highest rating awarded by the U.S. Green Building Council. With this achievement, Paramount’s entire San Francisco portfolio aggregating 2.9 million square feet is now LEED Platinum certified, reflecting Paramount’s commitment to being an industry-leader in social and environmental responsibility.
“Having all three of our San Francisco properties receive the prestigious LEED Platinum certification is a significant achievement that demonstrates our commitment to sustainability and operational excellence,” said Albert Behler, Chairman, Chief Executive Officer and President of Paramount. “The steps we have taken to upgrade the quality of our portfolio have resulted in all of our properties being either LEED Platinum or Gold certified, helping to improve our environmental and financial results.”
The criteria for achieving LEED Platinum certification is both intensive and comprehensive. Properties pursuing LEED Platinum qualification must earn 80+ cumulative points across nine categories: Location & Transportation, Sustainable Sites, Water Efficiency, Energy & Atmosphere, Material & Resources, Indoor Environmental Quality, Innovation, Regional Priority and Integrative Process.
At One Front Street and 50 Beale Street, Paramount increased water efficiency at each property by over 30 percent, received the maximum allotment of points for the Location & Transportation category, pursued light pollution reduction credit, and achieved excellent ratings in IAQ standards and water diversion, including high composting rates. These impressive results were instrumental in each property receiving the LEED Platinum distinction.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, D.C. and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
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