NEW YORK CITY- Charles B. Leitner III, global head of Rreef, has taken on the role of CEO at the Greenprint Foundation, a worldwide alliance of owners, investors and financial institutions aiming to “green” commercial real estate. Leitner will spearhead the foundation’s initiative to reduce real estate carbon emissions, and says in a statement that Greenprint is “poised to become a catalyst for change in how the real estate industry combines the reduction of our carbon footprint with adding value to our portfolios.”

In a release, Rreef, the real estate investment management arm of Deutsche Bank’s Asset Management division, says it “strongly supports” Leitner’s decision to lead Greenprint., even as it means he’s stepping aside as the company’s global head. Leitner will assume the role of chairman of Rreef and will remain actively engaged in the business, the company says. Rreef is a founding member of Greenprint.

Pierre Cherki, also based in New York, has been appointed global head at Rreef. He previously was head of Europe, Middle East and Asia Pacific, and is now reporting directly to Kevin Parker, head of DeAM. Parker notes in a release that his company has already taken the lead on climate change issues.

To that end, DeAM has $6.8 billion in climate change-related assets under management as of March 31. In June 2009, DeAM launched what is reportedly the world’s first real-time carbon counter on a 70-foot tall billboard outside Madison Square Garden.

A recent Rreef research paper, titled, “The Greening of U.S. Investment Real Estate” argued that green building is fundamentally altering real estate market dynamics. Property owners will need to adapt quickly or face shrinking demand or obsolescence, according to the paper.

In related news, Deutsche Bank earlier this month chose Steven Winter Associates and HR&A Advisors to create the Building Energy Efficiency Data Report. The report will investigate building performance data of over 200 apartment buildings that have been retrofitted in New York City over the past several years. It aims to quantify the cost savings that result from retrofit efforts while influencing lending and investment decisions in the multifamily sector, according to a release.

Instant Insights /

Leitner Heads Up Worldwide Green Initiative

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