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alvanize Real Estate, the sustainable real estate strategy of Galvanize, a global asset manager specializing in decarbonization, has acquired a five-property industrial portfolio in Maryland. The Baltimore-Washington Industrial Portfolio totals 683,330 square feet and is located across Howard County and Prince George's County.

    This acquisition marks Galvanize Real Estate's fourth investment in its growing real estate portfolio, which now exceeds 1.6 million square feet. Joseph Sumberg, Managing Partner & Head of Galvanize Real Estate, noted that the company is "thrilled to increase our industrial footprint in Maryland," citing steady demand fundamentals and limited supply.

    The properties will be subject to the Building Energy Performance Standard (BEPS) starting June 1, 2025, requiring large buildings to disclose greenhouse gas emissions and achieve net zero emissions by 2040. Nicolette Jaze, Head of Sustainability at GRE, stated that the portfolio represents an opportunity to showcase their strategy's scalability and alleviate stress on the utility grid through a solar PV distributed energy program.

    Galvanize Real Estate plans to implement sustainability measures and clean energy assets to reduce direct emissions and advance the state's net zero goals. The business plan includes value-add improvements and a reduction of on-site carbon emissions by up to 118-138% over the portfolio's baseline, equivalent to approximately 34,802 metric tons of CO2e avoided over 30 years.

    Rachel Reardon, Vice President, Acquisitions, Galvanize Real Estate, noted that the portfolio advances their long-term vision for the Baltimore-Washington region as a cornerstone of their industrial aggregation strategy. The transaction was managed by Bo Cashman and Jonathan Beard from CBRE National Partners.