Some of the biggest names in the real estate world on both sides of the Atlantic are gearing up for a very particular challenge: taking old office buildings that are big emitters of carbon, making them more energy efficient, and turning a profit in doing so. Fund managers like Tishman Speyer and Patrizia have raised money for brown to green strategies. Brookfield is taking private a listed German company at the forefront of making offices more sustainable. And UK REIT Great Portland Estates sees buying and improving stranded assets as a key pillar of its strategy going forward. “I’ve been doing this for 30 years, and it’s one of the most interesting moments of my career,” GPE chief executive Toby Courtauld said ahead of an appearance at Bisnow’s London Future of Office event on Thursday. 
It is a strategy that can be profitable for both property and the planet. To tap into a cliche, it is a huge challenge, but a huge opportunity, too, if it is done right. For real estate owners in cities like London or New York, making assets energy efficient isn’t really a…  Read the full story here. | 
