MIM embraces our role as a responsible real estate lender and investor. We understand the impact buildings have on people, communities, and the environment. We also know that issues such as climate change, regulatory environments, and building operational efficiencies will increasingly impact lending decisions and financial performance. Risk of property damage from climate-related events, such as hurricanes and floods, is considered as part of our due diligence process. Flood zone determination, as well as hurricane modeling, is performed to understand potential investment risk.
MIM has implemented the use of a commercial mortgage ESG questionnaire that collects data on sponsor-level sustainability practices and accomplishments, including written policies, public disclosures, and memberships in sustainable organizations. We also track LEED certification and ENERGY STAR status at the time of loan origination. MIM has also implemented the use of an ESG Acquisitions Assessment as part of the required due diligence for all new real estate equity investments. The Assessment seeks to evaluate the resilience of each asset from both a short- and long-term perspective.
MIM developed and implemented the MetZero™ program, based on a Carbon Cascade™ approach, that seeks to aggressively reduce emissions in our MIM-managed real estate equity properties. We are pursuing carbon neutrality in several of our real estate fund projects.
Both MIM’s commercial mortgage lending and equity real estate teams have developed supplemental ESG Investment Policies, which can be found on MIM’s website at:
We created a COVID-19 task force comprised of MIM personnel and industry experts to create and update guidelines to operate assets during the COVID-19 pandemic, as well as how to reopen them. We also expanded our Fitwel program in response to COVID-19 and investigated various microbiological technologies and products with regard to indoor air quality to ensure occupants’ and residents’ safety.