Galvanize's Real Estate Strategy Acquires Five-Property Portfolio in Maryland

Fourth acquisition in a year underscores growing opportunity for profitable decarbonization approach

NEW YORK, June 12, 2025 /PRNewswire/ -- Galvanize Real Estate ("GRE"), the sustainable real estate strategy of Galvanize, a global asset manager specializing in the business of decarbonization, today announced its acquisition of a five-property industrial portfolio ("Baltimore-Washington Industrial Portfolio") in Maryland totaling 683,330 square feet. The five properties are located across Howard County, MD along the I-95 Corridor and Prince George's County, MD near the I-495 Capital Beltway. The Baltimore-Washington Industrial Portfolio is the fourth investment in GRE's growing real estate portfolio, which now totals over 1.6 million square feet.

"We are thrilled to increase our industrial footprint in Maryland," noted Joseph Sumberg, Managing Partner & Head of Galvanize Real Estate. "We believe that this is a market with steady demand fundamentals, limited supply, a strong labor pool, and real estate product that will benefit from our focus on profitable decarbonization."

Beginning on June 1, 2025, properties larger than 35,000 square feet in Maryland will be subject to the Building Energy Performance Standard ("BEPS") as part of Maryland's Climate Solutions Now Act of 2022. BEPS will require large buildings, such as the five properties in the Baltimore-Washington Industrial Portfolio, to disclose their greenhouse gas emissions and achieve net zero emissions by 2040.

"The Baltimore-Washington Industrial portfolio represents a compelling opportunity to showcase our strategy's scalability and its potential to alleviate the increasing stress on the utility grid through the implementation of a solar PV distributed energy program," said Nicolette Jaze, Head of Sustainability at GRE. "We look forward to implementing a wide range of sustainability measures and clean energy assets that will reduce the direct emissions of the portfolio and advance the state's net zero goals."

GRE's business plan for the Baltimore-Washington Industrial Portfolio includes value-add improvements to the properties and a reduction of on-site carbon emissions by up to 118-138% over the portfolio's baseline, achieved through electrification, energy reduction initiatives, and on-site energy generation at the three properties that do not already have solar installed. This could amount to approximately 34,802 metric tons of CO2e (carbon dioxide equivalent) avoided over 30 years or nearly 4,670 homes' energy use for one year. 

"This portfolio advances our long-term vision for the Baltimore-Washington region as a cornerstone of our industrial aggregation strategy," said Rachel Reardon, Vice President, Acquisitions, Galvanize Real Estate. "We are selectively building scale in submarkets where we see strong tenant demand, structural supply constraints, and real potential for profitable decarbonization. These assets fit that profile perfectly, and we look forward to unlocking their full value through targeted investment and sustainability initiatives."

The transaction was managed by Bo Cashman and Jonathan Beard from CBRE National Partners.

About Galvanize
Galvanize is a pure-play, global asset manager focused on delivering compelling returns through deep specialization in energy and the business of decarbonization. Led by co-executive chairs Katie Hall, Tom Steyer, and Secretary John Kerry, Galvanize invests across asset classes including venture capital and growth equity, public equities, and real estate, to accelerate commercially competitive solutions, products, and services. Built by investors and operators with proven track records scaling multibillion dollar strategies, Galvanize is structured to identify and execute on investment opportunities across all sectors of the economy. Its model pairs top-tier institutional investment talent with expertise across technology, science, market development, policy, and geopolitics. The firm has offices in San Francisco, New York, and London.

Media Contact
Kate Bassett
VP, Marketing & Communications, Galvanize
kate.bassett@galvanizeclimate.com

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SOURCE Galvanize Climate Solutions