This platinum-level award recognises an institutional investor that demonstrates an outstanding, holistic, and embedded approach to sustainability across its real estate portfolio. Judges will look for clear leadership, strategic coherence, and evidence that sustainability is central to decision-making rather than treated as a standalone theme.

Your entry should explain your overall sustainability strategy and how it is implemented consistently across the real estate portfolio. This should include how environmental, social, and governance considerations are integrated, prioritised, and governed at institutional and asset levels.

Judges will expect detail on how the different facets of sustainability are aligned and mutually reinforcing, including:

• Environmental performance, such as energy efficiency, green building standards, carbon-emissions reduction, and net-zero pathways

• Resource management, including the use of natural resources, water efficiency, waste reduction, and pollution control

• Climate risk management, covering both physical and transition risks • Social impact, including tenant wellbeing, community engagement, and contributions to social or affordable housing

• Governance and accountability, including targets, monitoring, reporting, and oversight

Entries should demonstrate measurable outcomes and progress, supported by data, case studies, and long-term targets. Judges strongly encourage honest discussion of challenges, trade-offs, and lessons learned, particularly where sustainability objectives have evolved. This category celebrates investors setting a benchmark for sustainable real estate investment and long-term value creation.

This platinum Innovation category recognises institutional investors that have introduced an innovative approach, strategy, concept, development, or initiative within their real estate investment portfolios. Judges will look for ideas that are novel, impactful, and influential, with the potential to be industry-leading or to drive meaningful change across the real estate investment landscape.

Your entry should clearly describe the innovation itself, including what makes it different from existing market practice and why it was developed. This may relate to investment strategy, asset management, financing structures, technology, sustainability, governance, partnerships, or operating models.

Judges will expect insight into:
• The objectives and rationale behind the innovation and how it aligns with your institution’s long-term goals

• How the innovation has been implemented in practice, including governance, resourcing, and partnerships

• The impact and outcomes to date, supported by evidence, data, or case studies where possible

Entries should explain how the innovation has improved performance, reduced risk, enhanced sustainability or social outcomes, or strengthened decision-making. Long-term potential is highly valued, even where full results are still emerging. Honest discussion of challenges, setbacks, or lessons learned is encouraged, particularly where the innovation required adaptation or refinement. Judges will also look favourably on examples that demonstrate scalability, influence on peers, or potential to shape future best practice.

Diversity and inclusion are increasingly important priorities, and many institutional investors are now developing policies and strategies to address them both internally and externally.

For this award, the judges are looking for evidence of at least one of the following:

• A clear commitment to advancing diversity and inclusion within your own organisation

• Demonstrable achievements in promoting diversity and inclusion across pensions, asset management, and financial services more broadly

• Leadership and progress in embedding diversity and inclusion within corporate governance practices

• Meaningful contributions at the industry level to raise awareness of diversity and inclusion issues

Your entry should focus on at least one key area of diversity and inclusion, such as:

• Ethnicity

• Gender equality

• Age

• Sexual orientation

• Disability and accessibility

This award recognises entries that present a holistic view of your real estate portfolios — how they are constructed in line with long-term objectives and the desired risk-return profile. Many institutional investors adopt a range of strategies within their real assets portfolios to diversify and balance risk.

You may wish to cover:

• Your overall real estate risk budget
• How you implement different strategies
• How you develop partnerships
• How the different strategies and investment approaches interact and balance each other out at both portfolio and overall levels
• How you construct your mandates within certain regulations and restrictions
• Your approach to researching and evaluating new sectors or investments
• How you measure the overall success of your real estate portfolios

The strongest entries will continue to clearly outline your overall advisory approach and support this with recent case studies (past 12–18 months), but we also encourage entries that highlight broader aspects of consultancy excellence, including: .

1. Strategic Thinking & Innovation
• How your firm anticipates market trends, challenges, and opportunities.
• Forward-looking initiatives you’ve implemented to improve client outcomes or differentiate your service.
• Development of new methodologies, frameworks, or digital solutions.

2. Client Development & Relationship Management
• Innovative approaches to acquiring and retaining clients.
• How you have tailored your advisory proposition to meet evolving client needs.
• Strategies for deepening engagement with institutional investors beyond standard mandates.

3. Operational Excellence & Governance
• Internal processes and practices that improve delivery efficiency, cost-effectiveness, or risk management.
• Demonstration of knowledge sharing, staff development, or investment in research capabilities that add value to clients.

4. Impact Measurement & Value Creation
• Not only the results of advice given, but also longer-term impacts on portfolios, client decision-making, and market positioning.
• Innovative ways of tracking, demonstrating, and reporting the value your consultancy adds.

5. Thought Leadership & Industry Contribution

• Contributions to the wider real estate and investment community.

• Publications, speaking engagements, participation in industry forums, or thought leadership that shapes client strategy and market discourse.

Entries do not need to be limited to short-term projects — long-term initiatives that demonstrate continued innovation, strategic foresight, or sustained client impact are welcome, provided progress and results are documented.

This award recognises an outstanding emerging professional within the institutional investor community who has demonstrated exceptional talent, leadership, and impact in real estate investment at an early stage of their career. It celebrates individuals helping to shape the future of institutional real estate through innovation, strategic thinking, and delivery.

Nominees must be under the age of 40 and employed by an institutional investor organisation, such as a pension fund, from any country globally. Individuals serving in roles such as trustees are also eligible. The award is open to professionals across all relevant functions, including investment, strategy, asset management, sustainability, risk, or governance.

Entries should focus on the nominee’s personal contribution to a recent concept, strategy, development, innovation, initiative, or investment decision within the review period. Judges will look for clear evidence of individual influence and responsibility, rather than team or organisational achievements alone.

Submissions should demonstrate how the nominee’s work has delivered tangible outcomes, added long-term value, improved risk management, advanced sustainability objectives, or driven positive change within their organisation. Honest reflection on challenges faced and lessons learned is encouraged. This category celebrates the next generation of institutional real estate leaders and their contribution to the evolving investment landscape.

This award looks at the increasingly prominent role played by more specialist markets and niche sectors, such as student housing and care homes. You should explain how investing in niche assets supports your long-term objectives and risk return profile.

You should ideally include as many of the following points as possible:

• document clearly the benefits of including to so-called alternative sectors
• any restrictions either at institutional or regulatory level
• include examples of your portfolio, especially deals and activity • any minimum or maximum investment value
• the types and sectors you prefer
• how you gain exposure
• who manages your investments financially and operationally
• outline how you manage the risks direct investments incur
• how you measure or propose to measure your outcomes and judge if successful
• provide figures or other data to demonstrate how you have achieved or are achieving your objectives

For this category, you will need to explain what differentiates your core + from a core strategy, if you run both, how your strategy is composed, its objectives including time horizons, how you implement it, what measures you judge success by and figures/data to show outcomes to date. You should also explain how you construct your mandates and who runs them.

A core strategy is based on stable income producing properties and markets and is attractive to institutional investors looking for safe and reliable returns. Core strategies are additionally considered a means of diversification for long-term investors and your entry should begin by establishing why you chose to invest in core properties and its role in your overall risk adjusted returns.

Core + strategies target properties that offer the same secure characteristics as core assets but offer extra investment potential, to increase their net operating income such as renegotiating upcoming lease rates and tenancy rents.

 

More explicitly, for both core and core +, the judges will ideally look for strategies targeting properties with:

• credit quality tenants
• long-term leases
• stable locations
• in primary and secondary markets
• secure and reliable return characteristics
• diversification benefits

Although the concept behind direct real estate investments is relatively straightforward, the judges will be keen to see how you research and invest in target assets and who manages them both financially and operationally.

You should:

• • document clearly the benefits of running a direct portfolio
  • any restrictions either at institutional or regulatory level
  • include examples of your portfolio, especially deals and activity
  • any minimum or maximum investment value
  • the types and sectors you prefer
  • sourcing and building relationships with partners
  • explain how a direct strategy supports your long-term objectives
  • outline how you manage the risks direct investments incur

An indirect strategy can be described simply as a means of gaining exposure to real estate via unlisted funds and other pooled or mutual investment vehicles. Your entry should provide full details of your indirect strategy, how you construct your mandates and who manages them.

Explicitly, the judges will be keen to know:

• why you prefer to invest indirectly
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• any minimum or maximum investment value
• explain how an indirect strategy supports your long-term objectives
• outline how you manage the risks indirect investments incur

This category recognises institutional investors with a clear and well-articulated office investment strategy, implemented in a period of significant structural change for the sector. Judges will look for strong strategic rationale, disciplined execution, and evidence of long-term thinking.

Your entry should explain the role of office investments within your overall real estate and total portfolio, including the objectives of the strategy, target risk/return profile, and time horizon. You should outline the types of office assets and locations you invest in, and how your approach reflects changing occupier demand, working patterns, and market conditions.

Judges will expect insight into how you manage key risks, including income durability, vacancy, and obsolescence, as well as how you address capital expenditure, refurbishment, and repositioning. Environmental sustainability, regulatory risk, and asset quality should form part of the strategy.

Entries should describe how office mandates are structured and managed, and provide evidence and outcomes where possible. Honest discussion of challenges, underperformance, and lessons learned is encouraged, particularly where strategies have evolved to protect long-term value and institutional objectives.

This category recognises institutional investors that have developed a clear and resilient retail investment strategy in a sector undergoing long-term structural change. Judges will look for strong strategic rationale, asset selection, and evidence of adaptation.

Your entry should explain the role of retail investments within your overall real estate and total portfolio, including objectives, risk/return targets, and time horizon. You should outline the types of retail assets you invest in (e.g. shopping centres, retail parks, high street, grocery-anchored), and how location and tenant mix support income durability.

Judges will expect insight into how you manage leasing risk, tenant quality, and changing consumer behaviour, as well as how you approach asset management, repurposing, or mixed-use strategies. Sustainability, community relevance, and regulatory considerations should also be addressed.

Entries should describe mandate structures and management approaches, supported by evidence and outcomes. Honest discussion of challenges, underperformance, and lessons learned is encouraged, particularly where strategies have evolved to protect long-term institutional value.

This category recognises institutional investors that have developed and implemented a clear and credible social impact strategy alongside their real estate investment activities. Judges will look for evidence of intentionality, integration, and measurable outcomes, demonstrating how social objectives are pursued in parallel with long-term financial returns.

Your entry should explain the role of social impact within your overall real estate and total portfolio, including how social objectives are defined, prioritised, and governed. This may include strategies focused on areas such as affordable housing, social or supported housing, placemaking, community regeneration, health and wellbeing, or access to essential services.

Judges will expect clarity on:

• The social impact objectives you are seeking to achieve and why these are relevant to your institutional mission and stakeholders

• How social considerations are integrated into investment decision-making, asset management, and partner selection

• The metrics, frameworks, or methodologies used to measure and monitor social outcomes over time

Entries should also address how you balance social impact and financial performance, including any trade-offs, risk considerations, or regulatory constraints. Evidence is essential: entrants should provide data, outcomes, and case studies where possible.

Honest discussion of challenges, underperformance, or lessons learned is encouraged, particularly where strategies have evolved to improve social outcomes while supporting long-term institutional objectives.

The real estate sector has a large impact on biodiversity, for example, by overexploiting resources, taking the natural habitat of species, and emitting pollutants through construction and building operations. Biodiversity protection and the impact of the built environment on biodiversity loss are therefore increasingly important factors institutional real estate investment strategies and additionally they relate to climate risk management. For this award, the judges will be keen to see:

• Your approach to biodiversity in your real estate investment decisions
• Any specific mandates devoted to protecting and restoring biodiversity loss and how these are constructed and managed
• How biodiversity complements and enhances your sustainable real estate policy and overall investment strategy
• How biodiversity considerations in your real estate strategy contributes to your achieving your net zero emission goals
• The risks and opportunities associated with incorporating biodiversity in your real estate strategy
• How your approach to biodiversity in your real estate investments supports nature-based initiatives and complies with national and international regulations and guidelines

The concept of institutional investors providing finance is growing fast and real estate is one of the key asset classes where they can back projects and developments with long- term benefits that match their long-term risk reward expectations and liabilities. You should therefore explain the role debt plays in your overall investment strategy, including the risk it carries and how you manage it.

Debt is a generic term and there are many different types of real estate debt available to institutional investors, including:

• • mortgages
  • loans to finance development and/or renovation projects
  • mezzanine debt
  • senior debt

You should outline the types of debt you invest in and why you chose those types. You should also include details about how you construct your relevant mandates and who manages them. You should also highlight any restrictions either at institutional or regulatory level.

This category recognises institutional investors that have developed and implemented a robust environmental sustainability strategy across their real estate portfolios. Judges will look for clear strategic intent, integration into investment and asset management processes, and evidence of measurable progress toward long-term environmental objectives.

Your entry should explain the role of environmental sustainability within your overall real estate and total portfolio, including how it supports your institution’s risk management, regulatory obligations, and long-term value creation. This should include a clear overview of your net-zero strategy, carbon-reduction targets, and transition pathways.

Judges will expect detail on how you address:
• Energy efficiency and decarbonisation, including retrofitting programmes, sustainable construction, and improvements to building performance
• Carbon emissions measurement and reduction, including baseline setting, targets, and progress to date
• Climate risk management, such as physical and transition risk assessment and mitigation
• Resource efficiency, including water management, waste reduction, and pollution control
• Biodiversity and nature, where relevant, including approaches to enhancement or protection

Entries should outline how sustainability considerations are embedded in investment decision-making, asset management, development activity, and manager selection, supported by evidence, data, and outcomes. Honest discussion of challenges, trade-offs, and lessons learned is encouraged, particularly where strategies have evolved to balance environmental impact with long-term institutional objectives.

This category recognises institutional investors with a clear and well-executed industrial and logistics investment strategy, reflecting the sector’s growing importance within real estate portfolios. Judges will look for strategic clarity, scalability, and long-term thinking.

Your entry should explain the role of industrial and logistics assets within your overall real estate and total portfolio, including objectives, target returns, and time horizons. You should outline the types of assets you invest in (e.g. urban logistics, distribution centres, light industrial), and the markets and locations targeted.

Judges will expect insight into how you manage tenant concentration, lease structures, re-letting risk, and development or expansion potential. Asset specification, location quality, sustainability, and regulatory risk should form part of the strategy.

Entries should describe how mandates are structured and managed, and provide evidence and outcomes where possible. Honest discussion of challenges, underperformance, and lessons learned is encouraged, particularly where strategies have evolved to support long-term income and institutional objectives.

Exposure to real estate using a listed strategy typically includes buying shares in property companies and investment vehicles such as REITs that are listed on stock exchanges and are therefore publicly tradable.

As with the direct and indirect strategies, you should first point out why you have developed a listed strategy as part of your real estate portfolio and how this supports your overall long-term objectives and risk return profile. Your entry should provide full details how you construct your mandates and who manages them.

Explicitly, you should also include:

• the reasons for the level of your commitment
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the costs of investing and running listed mandates
• the mandates and types of vehicles used to obtain exposure
• the risks listed investments incur and how you manage them

This category recognises institutional investors with a clear and well-defined residential investment strategy, focused on delivering long-term income, capital preservation, and sustainable outcomes. Judges will look for strategic clarity, disciplined implementation, and alignment with institutional objectives.

Your entry should explain the role of residential assets within your overall real estate and total portfolio, including the strategy’s objectives, target risk/return profile, and time horizon. You should outline the types of residential assets you invest in (e.g. private rented sector, affordable housing, student accommodation, senior living, multifamily, build-to-rent), and the markets and structures used.

Judges will expect insight into how you manage income stability, operating intensity, regulatory and political risk, and long-term demand drivers. Asset quality, location, tenant affordability, and sustainability considerations should form part of the strategy.

Entries should describe how residential mandates are structured and managed, and provide evidence and outcomes where possible. Honest discussion of challenges, underperformance, and lessons learned is encouraged, particularly where strategies have evolved to protect long-term value and member or beneficiary outcomes.

Your entry in this category can focus on either your value-add or opportunistic strategy or it could be a summary of each or how you combine both to complement your core strategies. 

Value-add
A typical definition of a value-added approach is investments in properties that are acquired at a favorable price with the potential to increase value by redevelopment or restoration.

This category highlights how adopting a value-added strategy is appropriate to your long-term objectives and risk return profile. You should show how increasing the value of long-term commercial investments in properties with high vacancy rates that also often require some restoration or redevelopments poses no undue risk. Your entry should provide full details how you construct your mandates and who manages them.

Explicitly, you should consider including:

• the benefits of investing in a value-added strategy
• how you research and invest in potential assets
• who manages your assets both financially and operationally
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the costs of investing and running value added mandates
• the mandates and types of vehicles used to obtain exposure
• the risks value-added poses and how you manage them

Opportunistic
Other than outlining your more short-term buying and selling skills to benefit from properties that are undervalued, distressed and/or under-managed, you should explain why and how adopting an opportunistic approach complements your long-term objectives and risk return profile. Your entry should provide full details how you construct your mandates and who manages them.

Explicitly, you should also include:

• the reasons for the level of your commitment
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the costs of investing and running opportunistic mandates
• the mandates and types of vehicles used to obtain exposure
• the risks opportunistic investments incur and how you manage them