Blackstone-Backed Legence Acquires Commercial Real Estate Sustainability Consultancy LORD Green Strategies
Blackstone-owned energy transition accelerator Legence announced the acquisition of commercial real estate-focused sustainability consultancy LORD Green Strategies, with plans to merge it with its existing CRE sustainability consultancy portfolio company RE Tech Advisors.
According to Legence, the transaction will create “one of the largest ESG consultancies in North America.”
Legence CEO Jeff Sprau said,
“As Legence continues to build the first Energy Transition Accelerator™ organization, we are proud to welcome this leading firm into our growing legion of companies. The LORD Green team was hand-selected based upon their expertise and culture, as well as sharing our vision of delivering energy efficiency and decarbonization to the built environment.”
Dallas, Texas-based LORD Green develops sustainability strategies, practices, metrics, and goals for commercial real estate clients’ portfolios, spanning property types including office, multifamily, industrial, retail, and hospitality. The firm also provides sustainability reporting services, green building certification assessments, and consulting for third-party certification rating systems.
RE Tech offers a wide range of ESG consulting services, ranging from climate strategies to reporting and compliance, with specialized including strategic engineering, data management, carbon, and marketing solutions for clients’ ESG strategies. To date, the company has supported over 100 commercial real estate clients to achieve more than $300 million in energy-related cost reductions.
The companies’ combined clients include Invesco, UBS, MetLife Investment Management, Principal Real Estate, and the U.S. Department of Energy.
Mychele Lord, President and Founder of LGS, said:
“LORD Green Strategies was built on the belief that we could make an authentic impact on commercial real estate sustainability. Combining forces with RE Tech Advisors—a well-respected company and fellow trailblazer in the ESG market—will allow our clients and employees to accelerate their positive impact on our future environment. With this transition, we will provide unmatched expertise in all aspects of the built environment to support a wide range of companies in achieving decarbonization goals.”