Market Overview

BRE Announces BREEAM In-Use Standard for Multifamily Residential Properties

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BRE America piloting global approach for multifamily properties to
benchmark operational performance with a cost-effective science-based
tool

BRE announced the launch of an International pilot program using BREEAM
In-Use with residential properties including multifamily. BRE America
introduced BREEAM In-Use for existing buildings to the USA marketplace
in 2016 and is spearheading the pilot to provide a science-based
sustainable improvement solution and certification not covered by
existing green building programs.

Four major real estate investor groups are participating and BRE America
is accepting other investor groups into the pilot program with a minimum
of three properties. The goal of the pilot is to develop technical
criteria based on evidence using existing properties to adapt BREEAM
In-Use for this distinctive and popular space type not currently
addressed with other rating programs. The technical manual will be made
available for public consultation and formalized in tandem with the
BREEAM In-Use update scheduled for 2019.

BREEAM was developed in 1990 by BRE,
a world leading, multi-disciplinary building science organization and
today is the world's longest established and most widely used
environmental assessment method with over 2,750,000 registered projects
and over 565,000 certified buildings worldwide across more than 80
countries.

"We're thrilled to be collaborating with market leaders Bozzuto,
Alliance
Residential Company
, Greystar
and others and applaud them for recognizing the value of sustainability
in multifamily residences," said Barry Giles, CEO of BRE America.
"BREEAM In-Use is a flexible tool that brings new and affordable
solutions to multifamily properties and we're happy to be expanding our
capacity to reach more buildings in the American marketplace."

"At Bozzuto, we are committed to providing sanctuary for our residents.
We believe an integral piece of this is providing a sustainable, healthy
home," said Pete Zadoretzky, Director of Sustainability for Bozzuto.
"We're excited to be working with a global leader in BRE to gain a
deeper understanding of how we can make our multifamily communities more
utility-efficient, resilient, and environmentally sound for our
residents and the neighborhoods in which we operate."

About BRE

BRE is a world-leading multi-disciplinary science center that
provides standards for the built environment. Unlike other providers of
building standards, BRE conducts research and develops science-backed
standards to advance the built environment. For more information, please
visit www.breamerica.com

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