Empire State Realty Trust Among the First to Renew WELL Health-Safety Rating for the Second Time, and Commit to WELL at Scale and Inaugural WELL Equity Rating

Rhea-AI Summary

Empire State Realty Trust (NYSE: ESRT) has achieved the WELL Health-Safety Rating across its entire portfolio for the third consecutive year. This certification highlights the company’s commitment to healthy indoor environments.

ESRT became the first commercial real estate portfolio in the Americas to obtain this rating and is among the first globally to complete its annual renewal. The company plans to engage with the WELL at scale program and adopt the newly introduced WELL Equity Rating, focusing on diversity and inclusion. The WELL Health-Safety Rating ensures that buildings meet rigorous health and safety standards, further validating ESRT's leadership in creating healthy buildings.

Positive

• Achieved the WELL Health-Safety Rating across 100% of its portfolio.
• First in the Americas to receive the WELL Health-Safety rating in 2020.
• Commitment to the WELL at scale program enhances long-term asset value.
• Incorporating WELL Equity Rating promotes diversity, equity, and inclusion.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that it achieved the WELL Health-Safety Rating across 100% of its portfolio for the third year in a row and committed to the International WELL Building Institute’s (IWBI) WELL at scale program and inaugural WELL Equity Rating. ESRT was the first commercial real estate portfolio in the Americas to achieve the WELL Health-Safety rating in 2020 – one of the industry’s most rigorous ratings for healthy buildings and organizations – and one of the first in the world to achieve its annual renewal.

“ESRT has focused on healthy buildings and indoor environmental quality for more than a decade. Our enrollment in WELL at scale and consistent renewal of the WELL Health-Safety Rating reaffirms our leadership and prioritization of healthy buildings and those who inhabit them,” said ESRT’s Chairman, President, and CEO Anthony E. Malkin. “We are pleased to further our strides for accountability in diversity, equity, and inclusion with this stringent third-party WELL Equity Rating as added value for our tenants and investors.”

“Empire State Realty Trust’s long-term and ongoing commitment to the health and safety of its employees, customers and the millions of visitors its iconic properties attract from all around the world is a tremendous example of leadership for people-first places,” said Rachel Hodgdon, president and CEO, IWBI. “We’re proud to support the team’s tremendous efforts and celebrate their achievements.”

ESRT’s commitment to WELL at scale demonstrates continued leadership and advancement in human health equity and well-being along with the value of assets. Through WELL at scale, ESRT will continue to engage in the WELL Health-Safety Rating, participate in the WELL Equity Rating, and receive WELL scores for each building across the portfolio.

The WELL Health-Safety Rating is an evidence-based, third-party verification for all new and existing buildings focused on operational policies, maintenance protocols, health and safety efforts, air and water quality assessment, and stakeholder engagement strategies to provide essential health benefits and services. This year, IWBI introduced its new WELL Equity Rating – a set of strategies to further diversity, equity, inclusion, and accessibility goals, as well as drive improvements in company culture and employee health. ESRT is among the first to enroll and will adapt the WELL Equity guidelines – which include enhanced community engagement, supportive programs, and inclusive design – to its established corporate DE&I strategy.

Through its annual Sustainability Report, ESRT continues to transparently report its ESG targets, practices, and progress. More information about ESRT’s environmental, social, and governance commitments can be found online.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the Empire State Building, the World's Most Famous Building, and Tripadvisor's 2022 Travelers' Choice Best of the Best Awards #1 attraction in the U.S. and #3 attraction in the world, the newly reimagined and iconic Empire State Building Observatory. The company is a leader in healthy buildings, energy efficiency, and indoor environmental quality and has the lowest greenhouse gas emissions per square foot of any publicly traded REIT portfolio in New York City. As of September 30, 2022, ESRT's portfolio is comprised of approximately 9.2 million rentable square feet of office space, 700,000 rentable square feet of retail space and 625 residential units across two multifamily properties. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, Twitter and LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as “assumes,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects” or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond ESRT’s control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, (i) the current public health crisis and economic disruption from the COVID-19 pandemic, (ii) a failure of conditions or performance regarding any event or transaction described above, (iii) environmental uncertainties and risks related to climate change, adverse weather conditions, rising sea levels and natural disasters; and (iv) accuracy of our methodologies and estimates regarding ESG metrics and goals, (v) tenant willingness and ability to collaborate in reporting ESG metrics and meeting ESG goals, (vi) impact of governmental regulation on our ESG efforts, (viii) and other risks and uncertainties described from time to time in ESRT’s and ESROP’s filings with the SEC, including those set forth in each of ESRT’s and ESROP’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors.” Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: Empire State Realty Trust, Inc.

Category: Leasing

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005195/en/

MEDIA:

Empire State Realty Trust

Brock Talbot

347-804-7863

btalbot@esrtreit.com

Source: Empire State Realty Trust, Inc.

FAQ

What is the WELL Health-Safety Rating achieved by Empire State Realty Trust (ESRT)?

The WELL Health-Safety Rating is a third-party verification for buildings that focuses on operational policies and health safety measures.

How long has ESRT held the WELL Health-Safety Rating?

Empire State Realty Trust has achieved the WELL Health-Safety Rating for three consecutive years.

What is the significance of the WELL Equity Rating for ESRT?

The WELL Equity Rating aims to enhance diversity, equity, and inclusion within the company's operational practices.

What does the WELL at scale program involve for ESRT?

The WELL at scale program allows ESRT to engage in ongoing health and safety ratings and assessments for its properties.

Where can I find more information about ESRT's ESG commitments?

ESRT's environmental, social, and governance commitments can be found in their Sustainability Report available online.