MRE Sustainability Policy
Purpose
MBK Real Estate LLC (“MRE”) advances sustainability by integrating responsible real estate practices into investment, development, ownership, and operations. MRE conducts its business with a focus on reducing environmental impact, conserving natural resources, supporting people and communities, upholding lawful and ethical business practices with integrity, and managing risks responsibly. By embedding sustainability considerations into business decisions, MRE works to enhance asset quality, strengthen stakeholder relationships, support health and well-being, and create lasting value for future generations.
MRE recognizes sustainability as a core management priority and integrates sustainability considerations into its investment, development, ownership, and operational activities in a manner appropriate to its business model, stakeholders, and business objectives.
MRE’s sustainability commitment is built on shared priorities across its business platforms, including MBK Rental Living LLC (“MRL”), MBK Senior Living LLC (“MSL”), and MBK Industrial Properties LLC (“MIP”). These priorities focus on (a) responsible real estate practices, (b) supporting people and communities, (c) partnering for sustainable impact, and (d) preserving resources and creating long-term value.
MRE’s sustainability commitment is built on shared priorities across its business platforms, including MBK Rental Living LLC (“MRL”), MBK Senior Living LLC (“MSL”), and MBK Industrial Properties LLC (“MIP”). These priorities focus on (a) responsible real estate practices, (b) supporting people and communities, (c) partnering for sustainable impact, and (d) preserving resources and creating long-term value.
Compliance as a Foundation
MRE regards compliance with applicable laws, regulations, permits, safety requirements, contractual obligations, and relevant industry standards as the foundation of responsible business conduct.
Proactive Risk and Opportunity Management
Meeting compliance requirements is only the starting point. MRE proactively identifies and manages sustainability-related risks and opportunities, including those related to environmental initiatives, physical climate risks and resilience, health and safety, people, operations, stakeholder relationships, and regulatory developments.
Long-Term Value Creation MRE
views sustainability as integral to long-term value creation by supporting resilient assets, resource-efficient operations, responsible risk management, and positive outcomes for people and communities. Through practical sustainability initiatives, MRE works to preserve natural resources, reduce environmental impact, enhance operational performance, strengthen stakeholder trust, and support durable business performance over time.
Responsible Development – Deliver projects that balance environmental performance, community needs, entitlement considerations, and long-term asset quality.
Regulatory Compliance – Meet applicable laws, permits, environmental standards, building codes, and safety requirements in each jurisdiction.
Safety – Maintain safe construction practices and operating environments for workers, occupants, tenants, and communities.
Resilience – Consider climate-related, physical, operational, insurance, and regulatory risks that may affect assets over time, and institute practical measures to support long-term performance and resilience.
Environmental Stewardship – Reduce environmental impacts through energy and water efficiency, responsible site planning, remediation, stormwater management, waste reduction, and resource conservation where practicable.
Responsible Operations – Operate senior living communities responsibly and efficiently while supporting residents, families, and team members.
Safe Living Environment – Support resident health, safety, and well-being through operating standards and emergency preparedness.
Facility Maintenance – Maintain high-quality communities through preventive maintenance and thoughtful capital planning.
Resource Conservation – Improve energy efficiency, water conservation, and waste reduction through operating and renovation decisions where practicable.
Water Safety and Sanitation – Maintain water safety, sanitation, and related resident safety practices consistent with applicable regulations, operating standards, and facility management responsibilities.
MRE believes successful real estate creates positive outcomes for the people and communities it serves.
MRE respects the dignity, safety, and well-being of employees, residents, tenants, contractors, business partners, families, vendors, suppliers, and local communities. MRE supports fair, respectful, inclusive, and non-discriminatory practices and seeks to conduct its business in a manner consistent with internationally recognized human rights, applicable laws, and business circumstances.
Community Engagement – Maintain open communication with local stakeholders and respond thoughtfully to community concerns.
Neighborhood Impact – Create projects that fit their context and contribute positively to surrounding communities.
Employee Health, Safety & Well-Being – Protect team member health, safety, and well-being through training, safe work practices, and workplace support. Foster a workplace where team members feel supported, engaged, and valued.
Contractor Health, Safety & Environmental Responsibility – Encourage health, safety, and environmental responsibility among contractors and construction partners, including OSHA-aligned jobsite practices.
Tenant Experience – Support efficient, functional, healthy, and sustainable environments for tenants and occupants.
Community Trust and Engagement – Recognize that long-term success depends on constructive relationships with local communities and municipalities. Engage stakeholders where appropriate and implement practical solutions to address project-related concerns.
Resident Wellness – Support healthy, engaging, and meaningful lifestyles for senior residents.
Resident Safety – Support safe and secure living environments through policies, training, and operating practices.
Employee Health, Safety & Well-Being – Protect team member health, safety, and well-being through training, safe work practices, and workplace support. Foster a workplace where team members feel supported, engaged, and valued.
Workforce Sustainability – Invest in employee engagement, retention, development, inclusion, and practical workforce support.
Social Connection – Reduce isolation and strengthen community through programming and resident engagement.
Quality of Life – Enhance the resident experience through wellness, service, safety, and connection.
Investors, Capital & JV Partners – Maintain transparency, discipline, and accountability in communications and decision-making. Build collaborative relationships that support long-term value creation.
Employees – Foster trust through engagement, respect, training, and professional growth.
Lenders – Maintain timely and reliable communication regarding project and asset performance.
Municipalities – Work constructively with local governments and regulatory agencies.
Contractors – Set expectations for responsible construction practices, HSE performance, safety standards, ethical business conduct, and environmental compliance.
Suppliers – Encourage reliable and responsible business relationships across the supply chain.
Residents & Families – Build confidence through quality service, communication, and responsible care practices.
Employees – Foster trust through engagement, respect, training, and professional growth.
Healthcare Partners – Collaborate with relevant partners to support resident well-being.
Community Organizations – Support local engagement, volunteerism, and partnerships.
Ownership Groups – Deliver operational excellence, transparency, and accountability.
Vendors – Maintain responsible procurement and service relationships.
Sustainable Development – Integrate sustainability considerations into project planning, design, construction, and operations.
Asset Value Preservation – Protect long-term asset performance by reducing obsolescence risk and supporting resilience.
Employee Retention – Support workforce stability through engagement, development, and inclusive practices.
Operational Efficiency – Improve efficiency and reduce long-term operating or retrofit costs where practical.
Sustainable Returns – Support durable, risk-adjusted investment performance through responsible real estate practices.
Innovation – Explore effective technologies and practices that improve project performance and stakeholder value. Prepare assets for changing regulations, technologies, market expectations, and climate-related impacts.
Resident Satisfaction – Strengthen resident experience and loyalty through high-quality service and wellness-oriented operations.
Service Excellence – Deliver consistent, high-quality operations that support residents, families, and ownership groups.
Employee Retention – Support workforce stability through engagement, development, and inclusive practices.
Operational Effectiveness – Improve accountability, efficiency, and quality across communities.
Sustainable Growth – Strengthen long-term business performance by aligning resident, employee, community, and ownership needs.
Community Impact – Document and communicate positive contributions to local communities.
Oversight and Implementation. The MRE Board of Directors (“BOD”) oversees MRE’s sustainability strategy, priorities, and performance. MRE Management is responsible for implementing this Policy, monitoring sustainability-related risks, opportunities, and performance, and reporting to the BOD.
Periodic Review and Updates. The BOD shall periodically review this Policy and recommend updates, as appropriate, to reflect changes in applicable laws and regulations, stakeholder expectations, business strategy, and sustainability-related risks and opportunities.