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Coveted distinction recognizes Paramount’s commitment to promote health and wellness among tenants and employees across its portfolio
Paramount Group, Inc. (NYSE: PGRE) ("Paramount" or the "Company") is pleased to announce that it has become a Fitwel Champion, reflecting its strong commitment to create office environments that encourage health and wellness among tenants and employees. Paramount has achieved Fitwel certification across 10 properties aggregating approximately nine million square feet.
Fitwel is a rigorous third-party healthy building certification system operated by the Center for Active Design (CfAD). Fitwel was created as a joint initiative between the U.S. Centers for Disease Control and Prevention (CDC) and the General Services Administration (GSA) to set the industry standard for evidence-based strategies that promote positive health outcomes for building occupants and communities. Fitwel Champions are companies that have committed to applying Fitwel at scale across their portfolios. Paramount’s distinction as a Fitwel Champion aligns with its broader ESG priorities.
"We are extremely proud to achieve this distinction, which affirms Paramount’s dedication to advancing ESG initiatives that drive positive outcomes for all our stakeholders and communities," said Wilbur Paes, Paramount’s Chief Operating Officer, Chief Financial Officer, and Treasurer. "By prioritizing health and wellness, we are not only further modernizing and enhancing the appeal of our buildings, we are also creating greater levels of trust among our occupants as they prepare to return to the office. With an additional three million square feet being positioned for certification in 2021, in addition to the nine million square feet that is already Fitwel certified, our portfolio is optimized for health and wellness."
Joanna Frank, President and CEO of CfAD, said, "We are pleased to recognize an industry leader in Paramount as a Fitwel Champion, which puts the company at the forefront of the growing healthy building movement. In adopting and implementing Fitwel’s evidence-based strategies across its portfolio, Paramount is making an important investment in the future of its office buildings by prioritizing occupant health and wellness. The company’s proactivity in this regard stands out among its peers and the broader commercial real estate industry."
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
About Fitwel and the Center for Active Design
Fitwel is the world’s leading certification system committed to building health for all®. Generated by expert analysis of 5,600+ academic research studies, Fitwel is implementing a vision for a healthier future where all buildings and communities are enhanced to strengthen health and well-being. Fitwel was originally created by the U.S. Centers for Disease Control (CDC) and Prevention and U.S. General Services Administration. The CDC remains the research and evaluation partner for Fitwel. The Center for Active Design, a global not-for-profit organization, was selected as the licensed operator of Fitwel, charged with expanding Fitwel to the global market. To learn more about Fitwel, please visit: www.fitwel.org.
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