Resources & Research

The NAIOP Research Foundation commissioned this report to identify best practices for promoting DEI within CRE firms. The study draws from existing studies on DEI, as well as interviews with a representative sample of practitioners at CRE firms that have pursued DEI initiatives. The authors also interviewed faculty and staff at undergraduate and graduate real estate programs to examine how universities are working to diversify their programs and how firms can partner with them to expand the talent pipeline.

Increasingly, integrating racial equity in the development life cycle is becoming a high priority, and the industry is recognizing that an elevated focus on equity can have benefits for financial and social returns. 10 Principles for Embedding Racial Equity in Real Estate Development shares 10 guiding ideas that can help developers, investors, and other practitioners make racial equity a central part of their real estate practice. Each principle distills insights from industry leaders and includes specific best practices that can be applied to different sectors, markets, and geographies.

After reviewing testimonials and conducting extensive research, the 2017 CREW Network Industry Research Committee selected 10 employers in the commercial real estate industry to interview for case studies. These case studies profiled the organizations’ representation of women employees, top executives, and board members. They explore employee programs, networking and interest groups, mentoring and sponsorship programs, and flexible work arrangements.

We aspire for our organizations to be meritocratic. Studies show that bias reduces meritocracy and disproportionally so for people from underrepresented groups. For our teams, companies, and industry to be more diverse and utilize the full talent pool, we need to improve business practices to improve meritocracy.

These actions enable us and our organizations to move from supporters to committed to improving diversity, equity, and inclusion (DEI). Break down the work in small steps and celebrate each success.

This roadmap is a guide for local associations to plan and identify activities that will identify, engage and mentor leaders representing the diversity of the local community and real estate market. The guide is not limited to a step-by-step approach, but instead includes broad action areas and a list of possible activities and available resources in each area. Tools and training for many of these activities are and will be available, however this roadmap is a useful tool for association staff and leaders to reference as associations work to be more inclusive of diversity.

On October 20, EisnerAmper, Mosser, and StepStone Group brought together a diverse panel of executives in the real estate investment space for Part II of our three-part DEI in CRE webinar series, to share personal insights on navigating their career paths, what they’ve learned along the way, and how they are reimagining the future. Our own Lisa Knee, a Partner and Leader of our Real Estate Practice, moderated, and panelists included:

Diversity, Equity, and Inclusion (DEI) initiatives are front and center in discussions for companies of all sizes and industries. But even with the best intentions, many people are still struggling to understand all of the ways that they can make positive contributions to their company's DEI efforts. Making sure that interviews and hiring practices are expanded to include as diverse of a team as possible is critical, but that is only one area of importance. It is equally important to ensure that you are leveraging a diverse group of suppliers and vendors to support your business - an increasingly important demand as consumers of their business are more and more diverse.

Momentus Capital’s family of organizations, including Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies, is working to help support economic mobility and wealth creation through more equitable access to capital for communities that have been long overlooked by traditional financial organizations.

In line with this commitment, and in recognition of discriminatory lending practices identified within CDFIs, Capital Impact Partners collaborated with Nonprofit Finance Fund (NFF) to identify and address policies and practices that contribute to it. They conducted research to understand how some local and national CDFIs have successfully taken steps to address inequity within their own lending practices.

Beneficial State Foundation is convening a group of more than 60 underwriters, impact leaders at financial institutions, regulators, innovators in alternative underwriting, and borrowers from across the country to develop solutions to increase credit access to people rising from longstanding systemic inequities and barriers, particularly communities that are majority people of color.

The framework includes best and promising practices for banks to improve Racial and Ethnic Representation within the internal workforce. It also includes best and promising practices to strengthen Racial and Ethnic Representation and Investment within the hiring process.

A policy-focused story told with maps from The Place Database

By Amy DeNinno, Mills College

June 2019

The findings and conclusions of this narrative reflect the views of the author and do not necessarily represent those of the Lincoln Institute of Land Policy.

The banking industry is powerful, and like other powerful industries, it can contribute to worsening global problems, or it can help solve them. The choice is up to us—the people who put our money into banks. As a new wave of ethical banking gains momentum around the world, you can turn your money into a force for good.