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ASB deliberately executes an innovative, tenant-centric strategy, investing in one-of-a-kind assets in high-demand markets across the United States.
We believe successful real estate investment management requires an equal focus on physical assets and the people who live and work in these spaces. Our significant expertise in deal sourcing, asset management, development, re-development, and finance – combined with our pioneering tenant-centric approach – has led to more than three decades of attractive risk-adjusted returns for our institutional clients and their beneficiaries.
Tenant-Centric Investing
We focus on where tenants want to be now and in the future — in assets with the right attributes at the right locations. That’s tenant centric investing. That’s what we do at ASB.
Industrial
Investments with characteristics that are attractive to logistics, distribution, and technology-oriented tenants.
Multifamily
Investments in vibrant, walkable neighborhoods with mass-transit access in high-demand markets.
Office
High-quality 21st-century tenant-centric office investments in markets that facilitate creativity and collaboration.
Retail
Investments in retail assets in the nation’s most iconic shopping corridors that cater to national and global brands.
Self-Storage
Modern self-storage assets with strong visibility located in dense sub-markets with limited competition.
ASB Key Company Stats*
$9.7
BILLION ASSETS UNDER MANAGEMENT
92
CURRENT
ASSETS
28
DYNAMIC MAJOR MARKETS
310+
INSTITUTIONAL
CLIENTS
*as of December 31, 2022
ASB’S DIFFERENTIATORS
Performance Comes First
Our investment professionals are guided by the firm’s steadfast fiduciary mission to generate outstanding risk-adjusted investment performance for our institutional clients and their beneficiaries.
Extensive Market Expertise
Our teams are experts in identifying investment opportunities in emerging submarkets within major U.S. cities, seeking assets which can generate solid long-term income growth and appreciation.
Tenant-Centric Investing
Our investment methodology is driven by understanding and anticipating the motivations and requirements of tenants. We focus on assets with specific competitive advantages that can meet tenants’ needs today and over the investment lifecycle.
ASB’S DIFFERENTIATORS
Accountability and Continuity
Each investment team is responsible and held accountable for asset performance results through its entire holding period from acquisition, strategic planning, asset management, and leasing to eventual disposition.
No Competing Mandates
We manage a limited number of real estate investment products with clear, compelling strategies and no competing mandates.
Committed to the Community
We are dedicated to making the places we invest in better – actively seeking opportunities to generate positive social and environmental impacts, and committed to sustainability initiatives.
Our Mission and Core Values
Our steadfast mission is to generate outstanding risk-adjusted investment performance for our investors so that their beneficiaries and retirees can secure life-long financial independence and peace of mind.
Perseverance
Our people have the passion, resilience, and determination to achieve long-term excellence.
Focus
Our people strive to prioritize their responsibilities and maintain their clarity of purpose to accomplish our mission.
Accountability
We take responsibility for our actions and hold ourselves accountable for our results.
Empathy
We are committed to our people and their professional and personal development and engaging all voices to unearth creative solutions that will drive performance.
Social Responsibility
We are committed to making a positive, impactful change to improve the communities we serve.
The Latest News
Strategies Disclosure
Disclosures Related to Strategies
Investment in Real Estate Generally. Real estate investments are subject to various risks, many of which are beyond the control of ASB, such as adverse changes in national or local economic and demographic conditions; local conditions (such as an oversupply of space or a reduction in demand for space); the quality and philosophy of management; competition based on rental rates; adverse changes in financial conditions of tenants, buyers and sellers of properties; quality of maintenance, insurance and management services; reduction or change in sources of debt or equity financing, including changes in interest rates; increases in real estate taxes and operating expenses, including energy prices; changes in law, regulations and governmental policies, including environmental laws, health and safety laws, zoning laws and governmental fiscal policies; potential liability under changing environmental and other laws; changes in the relative marketability of properties; cyclical over-building in property sectors; risks due to dependence on cash flow; risks and operating problems arising out of the presence of certain construction materials; structural or property latent defects; natural and unnatural disasters; acts of terrorism; uninsurable losses; condemnations; and others. Such risks could significantly impact the cost of operations, cash flow and results of operations, thereby leading to losses. No assurance exists that ASB can achieve its return objectives. Investments in existing entities (e.g., buying out a distressed partner or acquiring an interest in an entity that owns a real property) could also create risks of successor liability.
Development Competition. The development of undeveloped and/or partially developed properties is a highly competitive business. Success, therefore, will depend in part upon the ability of the ASB and its affiliates to select investments that will be competitive in their markets.
Risks of Leverage. The use of leverage will increase the exposure of investments to adverse economic factors, such as rising interest rates, economic downturns, or deteriorations in the condition of the investments or their respective markets. In the event an investment is unable to generate sufficient cash flow to meet debt service payments or there are other defaults under any loan documents underlying its indebtedness, the lender will be entitled to exercise the remedies specified under the loan documents, as well as its remedies under law. These remedies may include acceleration of the indebtedness and foreclosure on any collateral securing the loan. A lender seeking to enforce its claims may have recourse to a portfolio generally and not be limited to any particular investment, such as the asset giving rise to or securing the liability. Debt also may not be available on the terms and conditions and at the rates or in amounts that are consistent with the particular ASB investment strategy.
Debt Investment Risks. The value of debt investments, including construction, participating and other real estate-related loans (collectively, “Debt Investments”) and the ability to realize full repayment on a Debt Investment may be adversely affected by all of the factors that affect an investment. Risks of Debt Investments include (i) dependency for repayment on successful operation of the underlying property and tenant businesses operating therein; (ii) the fact that such loans are often non-recourse to the borrower; and (iii) amortization schedules that are often longer than the stated maturity and provide for balloon payments at stated maturity rather than periodic principal payments.
In addition, the market value of Debt Investments may be affected by changes in interest rates. Accordingly, in a period of declining interest rates, Debt
Investments without adequate call protection may benefit less than other fixed income securities due to accelerated prepayments. Interest rate changes may also affect a return on new investments. If there is a period of declining rates, the amounts becoming available for investment due to repayment of Debt Investments may be re-invested at lower rates than had been possible in prior investments. Increases in the interest rates on debt incurred in originating or acquiring investments may not be reflected in increased rates of return on the related investments, adversely affecting the return on those investments. Accordingly, interest rate changes may adversely affect the total return on investments.
Market Conditions. ASB’s strategy in some investments may be based, in part, upon the premise that real estate businesses and assets will be available for purchase at prices that ASB or its affiliate considers favorable. Further, a strategy for an investment may rely, in part, upon the continuation of existing market conditions (including, for example, supply and demand characteristics) or, in some circumstances, a local market recovery or improvement in market conditions over the projected holding period for the investments. No assurance can be given that real estate businesses and assets can be acquired or disposed of at favorable prices or that the market for such assets will either remain stable, or, as applicable, recover or improve, since this will depend, in part, upon events and factors outside the control of ASB.
Dependence on Property Managers. Although ASB will monitor the performance of investments, it will be the responsibility of unaffiliated property managers to manage the investments on a day-to-day basis. The results of operations, including the ability to make payments on any indebtedness, will depend to some degree on the ability of the property managers to operate investments on economically favorable terms. There can be no assurance that the management teams of property management firms will be able to operate each of the investments successfully. Moreover, the risks of dependence on property management firms are different by property type and by investment stage.
Any property manager may provide management services to properties owned by others that compete with one or more other ASB investments. As a result, such property manager may at times face conflicts of interest in the management of ASB investments managed by such property managers.
Inflation Risks. Increases in the rate of inflation may adversely affect net operating income from leases with stated rent increases or limits on the tenant’s obligation to pay its share of operating expenses, which could be lower than the increase in inflation at any given time. Inflation could also have an adverse effect on consumer spending, which may impact tenants’ sales and, with respect to those leases including percentage rent clauses, average rents.
ESGR Disclosure
ESGR Disclosures
The information provided herein regarding the ASB Real Estate Investments (“ASB”) ESGR program does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities in any fund ASB or its affiliates acts as a sponsor or investment adviser to now or in the future.
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
Resilience
Our objectives
ASB believes as an investment manager it should focus on both physical and transition climate-related risks. As part of our property acquisitions, environmental assessments and property condition reviews are often conducted to assess potential physical risks. As applicable, we conduct ongoing reviews of our properties’ physical and transition risks.
Analyze Physical and Transition Risk Data
Evaluate Portfolio Risk
Asset Management & Mitigation
Engage Stakeholders
Our goals
Seek to comply with municipal regulations involving energy, emissions, water, and waste/recycling disclosure, audit, retro-commissioning, and efficiency
Screen investments and prepare for climate-related physical and transition risks by employing resilient strategies on certain assets
The information provided herein regarding the ASB Real Estate Investments (“ASB”) ESGR program does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities in any fund ASB or its affiliates acts as a sponsor or investment adviser to now or in the future.
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
Governance
Our objectives
We seek to improve our governance structure through oversight of the investment management process. ASB values transparency in its processes and especially in its communication with stakeholders. We understand that transparency:
Establishes Trust
Expands Relationships
Increases Productivity
Strengthens Innovation
Our goals
Seeking transparency, accountability, and independence in compliance, reporting and governance programs
Providing regular training to employees on the ASB Code of Ethics, which covers prohibited behaviors for ASB employees
Aligning our ESGR Program with sustainability frameworks, such as GRESB and the United Nations Principles for Responsible Investment (“PRI”), to manage and seek to improve ESGR performance
Disclosing ASB ESGR programs and performance to investors to seek to show transparency through our website, ongoing newsletters, annual reports, and partner communications
CODE OF ETHICS AND COMPLIANCE PROGRAM
All employees receive annual training on the firm’s Code of Ethics and compliance practices. ASB’s Code of Ethics cover various issues to ensure the avoidance of conflicts of interest.
REAL ESTATE INVESTMENT ADVISORY COMMITTEE
The Real Estate Investment Advisory Committee is comprised of both internal senior executives and independent, external directors that have significant industry experience. The role of the committee is to provide independent advice, industry expertise and guidance on major investment decisions.
INVESTOR ADVISORY COMMITTEE
The Investor Advisory Committee is a group of representatives of investors that have significant investment in ASB’s products. The Investor Advisory Committee primarily serves as a sounding board for Fund’s senior leadership on key Fund matters and necessary consents.
ESGR COUNCIL
ASB’s commitment to making ESGR a priority has led to the designation of an ESGR Council comprised of a cross-section of company representatives that are charged with seeking to ensure ESGR best practices are being implemented.
The information provided herein regarding the ASB Real Estate Investments (“ASB”) ESGR program does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities in any fund ASB or its affiliates acts as a sponsor or investment adviser to now or in the future.
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
Social
Impact
ASB seeks to consider the impact of our corporate and investment-level operations on the well-being of our tenants, employees, contractors, and the communities in which our investment activity serves.
OUR GOALS
Promote tenant and resident engagement events including donation drives and community-building events
Provide amenities and spaces that support tenant and resident health and well-being where possible
Pursue building certifications in recognition of health and well-being attributes at certain properties
Through support of charitable organizations give back to the community to help those in need
Pursue the employment of highly trained, skilled workers from the construction industry, who are paid fair wages and have safe living and working conditions through ASB’s responsible contractor policy
Tenant Engagement, Health & Wellness
ASB utilizes tenant engagement and surveys from time to time to gauge satisfaction levels and identify issues to address with the aim of ensuring high levels of retention. In addition, we have conducted tenant satisfaction surveys to track tenant satisfaction and engagement at certain properties.
Additionally, we have launched a number of initiatives to address tenant health and wellness, pursuing applicable certifications where possible, such as Fitwel and WELL Building Standard.
IMPROVING INDOOR AIR QUALITY
We currently have an Indoor Air Quality (IAQ) program focused on select office and mid-to-high-rise multifamily assets across our portfolio — timely during the Covid-19 pandemic. The program included third-party measurements and internal review.
EMPLOYEES
The ASB team is a diverse group of individuals that enjoy professional benefits, including competitive pay, access to health, dental, and vision care, disability and life insurance coverage, plus paid time off. Employees are encouraged to take an active part in managing their careers and growth within the organization.
DIVERSITY, EQUITY & INCLUSION
As a leader in the institutional real estate marketplace, we recognize the importance of promoting diversity and equality within all facets of our organization. The ASB Diversity, Equity and Inclusion (DEI) initiative’s purpose is to foster an environment that seeks to recognize employees’ unique skillsets and strives to ensure that they have equal opportunity to grow and advance in an evolving workplace. As part of our DEI program, we have partnered with the following organizations:
A BEST PLACES TO WORK COMPANY
ASB Real Estate Investments has won a Best Place to Work in Money Management award for several years from Pensions & Investments.¹ Presented by Pensions & Investments, the global news source of money management, the annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.
SUPPLIERS & CONTRACTORS
We believe one of the more impactful policies employed by ASB in pursuit of social engagement is its responsible contractor policy. This policy seeks to promote responsible investing through engagement of signatory contractors ensuring the employment of highly trained skilled workers from the construction industry that are paid fair wages and have safe living and working conditions.
ASB: GIVING BACK
ASB wants to give back to the community to help those in need. We strive to make a positive, impactful change and support a wide variety of socially responsible organizations. Fostering a corporate culture of giving, the company has created a volunteer committee, ASB in Action, which aims to organize fundraising events that give back to the communities where we operate. In addition, all employees are given five volunteer days per year.
1. ASB paid a participatory fee to be included in the Pensions & Investments Best Place to Work survey. There was no promise or guarantees, either direct or indirect, in connection with the fee and the selection for the award. For more information regarding the survey, please see Best Places to Work for more information regarding the survey.
The information provided herein regarding the ASB Real Estate Investments (“ASB”) ESGR program does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities in any fund ASB or its affiliates acts as a sponsor or investment adviser to now or in the future.
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
Environmental
Environmental Sustainability
ASB Real Estate Investments seeks ways to ensure environmental sustainability is built into the investment process. Not only is environmental stewardship important from a moral perspective, we believe it can positively impact long-term performance for our investors.
We seek ways reduce or offset carbon emissions, gain energy use efficiencies, improve waste diversion, and prioritize green building certifications. In addition, we place emphasis on data collection, measurement, which can help improve our contribution to a cleaner built environment.
OUR GOALS:
Aim for the reduction targets aligned with the Paris Accord¹
Use environmental data management systems to track utility consumption and to identify efficiency opportunities at select properties
Identify, analyze, implement, and track efficiency projects and sustainability initiatives at certain of our properties
Implement energy procurement strategies in select markets to optimize costs
Evaluate renewable energy including on-site solar, green power purchasing, and Renewal Energy Credits (RECs) at certain properties
Seek green building certifications and pursue ENERGY STAR certification at certain properties, as appropriate
Building Certifications2
We believe green building certifications are a reliable way to measure the success of our sustainability initiatives at the property level. These third-party certifications measure our results against established benchmarks and recognize the sustainability efforts and achievements of our owners, property managers, and building tenants.
Areas of Focus
Energy
Greenhouse Gas Emissions
Renewable Energy
Water
Waste
Alternative Transportation
Indoor Air Quality
Sustainable Materials
1. Greenhouse gas (“GHG”) reduction target goals are aligned with the Paris Accord goal of limiting global warming to two degrees Celsius above pre-industrial levels. These targets are based on landlord-controlled (Scope 1 and Scope 2) utilities across the ASB Allegiance Real Estate Fund portfolio and relate to goals for our core investment strategy at the time of publication. Environmental targets are in inherently uncertain, forward-looking statements and subject to change. There can be no assurance these targets will ultimately be achieved.
2. ASB paid a fee to LEED, BOMA 360, Fitwel, Fitwel VRM, IREM and WELL. There was no promise or guarantees, either direct or indirect, in connection with the fee and the certifications. The above certifications and recognitions are currently in place.
The information provided herein regarding the ASB Real Estate Investments (“ASB”) ESGR program does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities in any fund ASB or its affiliates acts as a sponsor or investment adviser to now or in the future.
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
ESG
Our objectives & approach
ASB Real Estate Investments (ASB) seeks to advance environmental, social, and governance (ESG) policies and programs to help realize economic benefits, enhance long-term investment performance and reduce operating risk. We believe our ESG initiatives may have a positive impact on our properties by seeking to increase tenant demand, reducing operating expenses, improving resource efficiency, mitigating environmental impacts and overall climate-related risk, as well as enhancing engagement with stakeholders.¹
“We believe that an appropriately managed and resourced ESG strategy in the real estate investment business can enhance investor returns, moderate risk, and have a positive impact on the communities in which we serve.”
Robert Bellinger, CFA*
President and Chief Executive Officer
ENVIRONMENTAL
We seek ways to reduce or offset carbon emissions, gain energy use efficiencies, improve waste diversion, and prioritize green building certifications for certain investments as applicable. In addition, we place emphasis on data collection and measurement which we believe can help improve our contribution to a cleaner built environment.
SOCIAL
We seek to engage with our stakeholders including our tenants, employees, contractors, and the communities in which we are located.
GOVERNANCE
We seek to improve our governance structure through oversight of the investment management process.
RESILIENCE
We seek to recognize the potential physical and transition risks related to climate change and may seek to screen, evaluate and address both physical and transition climate-related risks as part of our investment and asset management process.
GRESB
ASB is a member of GRESB (Global ESG Benchmark for Real Assets) and has participated in their annual assessment since 2017. We’re proud to have achieved four out of five stars in GRESB’s 2023 Real Estate Assessment.3
1. Environmental, Social, Governance and Resilience targets are in inherently uncertain, forward-looking statements and subject to change. There can be no assurance these targets will ultimately be achieved or that processes related to ESGR matters will be followed at all properties in the manner described herein. Past results are also not indicative of future results with respect to third party ratings or other achievements described herein. From time to time, ASB publishes a ESG Report on matters related to ESG, such report is available to existing investors upon request.
2. ASB paid a fee to GRESB, LEED, BOMA 360, Fitwel, Fitwel VRM, IREM and WELL. There was no promise or guarantees, either direct or indirect, in connection with the fee and the certifications. The above certifications and recognitions relate to specific investments managed by ASB and are ongoing and currently in place.
3. The GRESB Real Estate Assessment is based on criteria established by GRESB and such a rating should be considered in light of such criteria. According to GRESB, it believes that the Assessment offers real estate managers relevant and validated ESG data and analytical tools to benchmark ESG performance, identify areas for improvement and engage with investors. ASB does not independently verify such ESG data. As a third-party rating firm, we pay GRESB to conduct its review. GRESB Real Estate Scoring Methodology
IN MAKING ANY INVESTMENT DECISION, PROSPECTIVE INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE GOVERNING AGREEMENTS OF SUCH FUNDS (INCLUDING THE PARTNERSHIP AGREEMENTS), AND THE TERMS OF ANY OFFER, INCLUDING THE RISKS INVOLVED. NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR THE SECURITIES COMMISSION OR ANY OTHER AGENCY OF ANY OTHER JURISDICTION HAS REVIEWED OR PASSED UPON THE MERITS OF SUCH FUNDS. THEIR UNITS HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL, STATE OR FOREIGN SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DESCRIPTION OF THE ESGR PROGAM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Where consistent with our investment goals of improving long term performance and reducing risk, ASB integrates ESGR objectives into our overall business strategy and investment management process. The information contained herein is solely for informational purposes and should not be relied upon in connection with making any decision with respect to advisory services provided by ASB Capital Management LLC, its division ASB or an investment in a fund or separate account managed by ASB or an affiliate. It should not be assumed that any ESGR initiatives, standards, or metrics described herein will apply to each asset in which ASB invests or each portfolio or fund or that they have applied to each of ASB’s prior investments or funds. ESGR is only one of many considerations that ASB takes into account when making investment decisions and managing assets, and other considerations can be expected in certain circumstances to outweigh ESGR considerations. The information provided herein is intended solely to provide an indication of the ESGR initiatives and standards that ASB may apply from time to time when seeking to evaluate and/or improve the ESGR characteristics of an asset as part of the larger goal of maximizing financial returns on investments. Accordingly, certain investments may exhibit characteristics that are inconsistent with the initiatives, standards, or metrics described herein. Considering ESGR qualities when evaluating and/or managing an investment may result underperformance compared to advisers that do not take ESGR-related factors into account because, among other reasons, the market may ultimately have a different view of a particular property than that anticipated by ASB. Further, while ESGR-related expenses of ASB’s funds and clients generally are incurred in furtherance of ASB’s goal to maximize profits for such funds and clients, certain expenses may instead be incurred in furtherance of certain environmental, social, governance and resilience goals, which could have an adverse impact on performance of an investment.
With respect to any case studies or outcomes referenced herein at the property or fund level it should not be assumed that these case studies are representative of all properties in all funds, or that similar initiatives or results will be experienced at other properties and it should not be assumed that these outcomes are representative of all properties in any funds, or that similar initiatives or results will be experienced at other properties. In considering the information contained herein, readers of this description of ESGR matters and case studies or goals or objectives should bear in mind that past performance is not necessarily indicative of future results, and there can be no assurance that ASB or its affiliates will be able to achieve similar results, implement its investment or ESGR strategy and investment or ESGR approach or achieve its investment or ESGR objectives. The description of ESGR is solely for illustrative purposes.
Unless stated otherwise, all time-sensitive representations or financial information in this description of our ESGR program are provided as of the specific date stated herein. Neither the delivery of this description at any time, nor any sale hereunder, shall under any circumstances create an implication that the information contained herein is correct as of any other time subsequent to such dates. Certain economic and market information or other information contained herein has been obtained from published sources and/or prepared by other parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable for the purpose used herein, none of the ASB or its affiliates or officers, directors or employees, any of their respective affiliates or any of their respective shareholders, directors, officers, employees, partners, members, agents or representatives or any other person assumes any responsibility for the accuracy or completeness of such information.
THIS DESCRIPTION MAY INCLUDE FORWARD-LOOKING STATEMENTS. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING ASB’S OR ITS FUNDS’ OR AFFILIATIES’ FUTURE ESG PERFORMANCE, FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED COSTS AND PLANS AND OBJECTIVES FOR FUTURE OPERATIONS AND INVESTMENTS, ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, FORWARD-LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “INTEND,” “FORECASTED,” “PROJECTED,” “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” OR “CONTINUE” OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR SIMILAR TERMINOLOGY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, THERE CAN BE NO ASSURANCE THAT SUCH EXPECTATIONS WILL PROVE TO BE CORRECT AND ACTUAL RESULTS MAY DIFFER MATERIALLY.
Careers at ASB
ASB has built success around talented, hard-working individuals who collaborate to gain a broad and integrated understanding of real estate disciplines to deliver attractive risk-adjusted returns.
Our team members gain full-spectrum expertise in underwriting, acquisitions, dispositions, asset management, leasing, valuations, budgeting, business planning, and strategy formulation. We encourage a culture of collaboration, and all members of our team engage in offering their points of view on major decisions in an extremely inclusive management process. ASB promotes diversity and equality within all facets of our organization and fosters an environment that recognizes employees’ unique skillsets and ensures that all employees have an equal opportunity to grow and advance.
What’s more, all of ASB’s professionals receive competitive compensation packages and are offered upside based on performance.
View Our Current Job Postings
Welcome to our job portal. Here, you may apply for open positions or submit your resume to our resume bank. If you are a candidate in need of assistance or accommodation in the application process, please contact [email protected] or call 301.986.6000.
WE ARE AN EQUAL OPPORTUNITY EMPLOYER. Applicants and employees are considered for positions and are evaluated without regard to mental or physical disability, race, color, religion, gender, gender identity, national origin, age, genetic information, military or veteran status, sexual orientation, marital status, or any other protected Federal, State/Province or Local status unrelated to the performance of the work involved.
B. F. Saul Company & Affiliates invites any employee and/ or applicant to review the Company’s Affirmative Action Plan. This plan is available for inspection upon request by emailing [email protected].
EEO is the Law Poster
EEO is the Law Supplemental Poster
Pay Transparency Nondiscrimination Poster
EEO Affirmative Action Notice
Our Mission & Core Values
Our steadfast mission is to generate outstanding risk-adjusted investment performance for our investors so that their beneficiaries and retirees can secure life-long financial independence and peace of mind.
Perseverance
Our people have the passion, resilience, and determination to achieve long-term excellence.
Focus
Our people strive to prioritize their responsibilities and maintain their clarity of purpose to accomplish our mission.
Accountability
We take responsibility for our actions and hold ourselves accountable for our results.
Empathy
We are committed to our people and their professional and personal development and engaging all voices to unearth creative solutions that will drive performance.
Social Responsibility
We are committed to making a positive, impactful change to improve the community we serve.