2021-2022 EDITION

Activity Report

Reflecting on another memorable period of time since our inaugural report, we continue to cherish the dedication of our colleagues, which has enabled us to deliver strong performance to our clients and make progress on our journey to fully being a Responsible Company to all our stakeholders. At QuadReal, our teams can be proud of the contributions they make today and for an even better tomorrow.

We invite you to join us in celebrating all that has been achieved and navigated this year, in large part and with thanks to the strong foundations and connections our teams have built.

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LEARN MORE ABOUT US

 

At glance

QuadReal
at a Glance

TOP
GLOBAL
REAL ESTATE
INVESTOR
$
BILLION
ASSETS UNDER
MANAGEMENT

ACHIEVED 91%
leaf icon
PERFORMANCE
SCORE IN 2021
GRESB
14.7 %
REAL ESTATE
RETURN

55+
LANGUAGES
SPOKEN

463 %
INTERNATIONAL
PORTFOLIO GROWTH
SINCE 2016

4.7 %
REAL
ESTATE DEBT
RETURN
1,200+
QUADREAL
EMPLOYEES
group icon

Time and time again teammates across the globe demonstrate their dedication and unparalleled work ethic to deliver strong, sustainable returns to BCI, RBC GAM and their clients. This is while frontline colleagues engage each and every day with our tenants and residents to ensure their comfort, wellness and safety. Everyone has been attentive to the needs of those around them, working collaboratively and creatively. It all reinforces to me the value of being part of a well-connected community of professionals as we strive to share the same spirit in the neighbourhoods of which we are a part.

Dennis Lopez, Chief Executive Officer

LIVING OUR VALUES

At QuadReal, we are committed to living our values. They support our vision and purpose and inspire us to achieve excellence. They reflect who we are as a company, inspire our culture and are a touchstone for everyone on the team.

http://QuadReal%20team%20members

Our
Purpose

To be a leading global real estate partner, recognized for making meaningful contributions to our communities while delivering strong investment returns and prudent growth. Now and for generations to come.

Our
Vision

To create living and working environments that enhance the lives of the people and communities we serve.

Our Values

BEING A RESPONSIBLE COMPANY

Our overarching commitment to being a Responsible Company has been present since QuadReal’s inception. Our foundation of being a Responsible Company is for the team and organization to serve its key stakeholders and to be specific in our commitments to them. These commitments ultimately inform where we focus for today and the generations to come. As we continue working towards an environment that is inclusive, respectful, collaborative and fair, we recognize that everyone within all parts of the company has been contributing to our collective learnings about where and how we can do better.

Follow our journey
BEING A RESPONSIBLE COMPANY

Our key stakeholders

Our key stakeholders
Employees
Communities
Tenants, Residents and Partners
Clients
Environment
Photo credit: Gabriel Hall/VMF

FOCUSING ON PERFORMANCE

Excellence in performance means a commitment to meeting and exceeding benchmarks. We focus on creating world-class portfolios and programs by seizing opportunities that deliver value to our stakeholders. We take inspiration from and share the best ideas from Canada and around the world to enhance the performance of assets in every marketplace where we operate.

REAL ESTATE EQUITY

2021 Real Estate Program
Return (%)

We managed a portfolio which delivered a 14.7% return. This one-year return significantly outperformed the real estate benchmark established for us of 6.8%.

14.7%
EQUITY RETURN
6.8%
BENCHMARK
  • EQUITY RETURN %
  • BENCHMARK %

QuadReal’s real estate team
outperformed the MSCI benchmark
by 180 bps on a three-year basis.

Attribution analysis confirms that outperformance is a function of value-add strategies, including development, asset allocation and well-timed dispositions.

2.2% 4.0%
6.4% BENCHMARK
5.0% 3.0%
8.2% GLOBAL
PORTFOLIO
  • INCOME RETURN -
    BENCHMARK
    CAPITAL RETURN -
    BENCHMARK
  • INCOME RETURN -
    QUADREAL GLOBAL
    CAPITAL RETURN -
    QUADREAL GLOBAL

Real Estate Debt

2021 Real Estate Debt
Program Return (%)

The real estate debt program delivered a 4.7% return. This one-year return significantly outperformed the benchmark established for us of 2.0%.

4.7%
DEBT RETURN
2.0%
BENCHMARK
  • DEBT RETURN %
  • BENCHMARK %

Operating Partner Group

QuadReal’s Operating Partner Group (OPG) drives performance and creates value to our clients by taking a multi-pronged approach, working with our operating company partners to enable their success. We share our capabilities in areas which include ESG management, digital buildings and treasury and finance, and in turn, our teams can target high conviction sectors and markets while benefiting from the local experience and expertise of our partners.

While the QuadReal team is known for delivering prudent growth and sustainable returns, I am also impressed with the commitment it extends to seeking alignment with the operating companies with which it partners and invests. We value and respect the expertise of these teams and organizations in their targeted areas of capital deployment, management and service. Together we share investment conviction, business and cultural values and a commitment to take performance to the next level.

Michael Zea, Executive Vice President & Operating Partner

QUADREAL RESOURCES GROUP

QuadReal Resources Group (QRG) is made up of a multi-disciplined group of professionals located in offices across our global offices. Together, we have the breadth and depth to mine for opportunities to drive sustainable performance.

On top of hands-on investment, property, asset management and development experience, QRG guides and executes on corporate objectives. The same team can guide and support the objectives of the operating companies with which we partner and invest.

Operating Group Wheel

OUR DEFINING ADVANTAGE

The energy and expertise of our colleagues inspire us in the community-building work we do every day. We are proud of our 1,200-member global team and the unique experiences each of us brings to the table to enrich what we accomplish together.

Our Culture Committees play a big role in making QuadReal a great place to work. Based on four pillars, our programs are led by over 70 Culture Committee volunteers who dedicate their time to create opportunities where we can share experiences and create new traditions with colleagues near and far.

OUR DEFINING ADVANTAGE
12
CULTURE COMMITTEES GLOBALLY
I enjoy working at QuadReal because it’s the equivalent of working with the best people you’ve ever crossed career paths with. The integrity, transparency and growth mindset that is woven into the fabric of our company is infectious.

Taimi Koskela, Manager, Real Estate Debt Operations and Culture Committee Chair, Victoria, BC

QUADREAL FOR GOOD

Our purpose is to create living and working environments that enhance the lives of the people and communities we serve, all around the globe. As a Responsible Company, we take to heart our commitment to make meaningful contributions to the communities where we work and live. In concert with and in support of all our stakeholders, we strive to leave a lasting, positive social and environmental legacy.

Find us in our communities
QUADREAL FOR GOOD
175+ charities
supported with donations in 2021-2022

DOING OUR PART

We have a teamwide dedication to integrating environmental, social and governance (ESG) into our planning, decision-making and performance evaluations. Overall, we take a systematic approach to understanding our ESG responsibilities—identifying and prioritizing our biggest levers for positive change.

We do this in support of our commitment to stronger communities and because this aligns us fully with all our stakeholders, including BCI, RBC GAM, their clients and those who work for QuadReal. As we continue to be a Responsible Company, our sound governance model allows us to hold ourselves accountable, support our investing and business activities and foster a culture of integrity and excellence.

More than ever, we are focused on using insights from our sustainability data and company-wide initiatives to deepen collaborations with our partners and to scale up innovative solutions. Through collaboration, we see a bright green future.

Jamie Gray-Donald, Senior Vice President, Sustainability & EHS

QUADREAL’S RECENT ESG ACTIVITIES

Achieve net zero global real estate
portfolio by 2050

Two publications co-authored with
The Center for Active Design

Received Greatest Number of Registrations distinction at the Best in Building Health Awards 2021

Green certification for over 95%
of Canadian portfolio:
BOMA BEST, ENERGY STAR, Fitwel, LEED®

One of the first companies to receive full Fitwel certification under the Viral Response Module
for Canadian office portfolio

Annual SASB (Sustainability Accounting Standards Board) reporting for Canadian portfolio and in support of RBC GAM

Annual UNPRI (Principles for Responsible Investment) reporting, the largest global reporting project on responsible investment

$2.5 billion bank credit facility is the
largest sustainability-linked facility
in Canada’s real estate sector

Leadership in ESG is the time, care, attention and innovation demonstrated by our teams to explore different ways to make a more sustainable future possible for our stakeholders, especially for the environment and the communities where we operate. We’re committed to continually exceeding expectations—our clients and colleagues expect nothing less from us.

Remco Daal, President, Canadian Real Estate

Rendering of Cloverdale redevelopment