Nareit Foundation Selects Paradigm for Parity as one of Nine Non-Profits to Receive Inaugural Dividends Through Diversity, Equity & Inclusion Grants

WASHINGTON, D.C. (Nov. 14, 2023) – The Nareit Foundation announced nine non-profit organizations that will receive inaugural grants from its Dividends Through Diversity, Equity & Inclusion (DDEI) Giving Campaign. The announcement was made during Nareit’s REITworld: 2023 Annual Conference.

The Nareit Foundation held a competitive application process, and after extensive review, the Nareit Foundation board approved the nine non-profit organizations each with a national reach to receive the grants.

Grantees Support Diverse Individuals and Businesses

These organizations have active projects reaching diverse individuals and businesses in the areas of talent development, capacity building, and entrepreneurial support. The Nareit Foundation DDEI grantees are:

• 1863 Ventures: The grant will support an online digital learning platform and capacity building curriculum, templates, and toolkits for entrepreneurs. The grant also will help develop resources to support access to capital.
• AHLA Foundation, Inc: The grant will support an industry-wide mentorship program to increase diverse talent in REITs through partnerships with Historically Black Colleges and Universities; mentorships and networking with hotel owners through AHLA events; and scholarships for industry-recognized credentials.
• Haitian Ladies Network: The grant will support a Real Estate 101 curriculum that will be developed in conjunction with Nareit as well as a CRE/REIT investment webinar series.
• Management Leadership of Tomorrow: The grant will support career readiness and bridge programs for students who are Black, Indigenous, and People of Color; and the programs also will help students develop their professional skills and secure post-college jobs.
• Nasdaq Entrepreneurial Center: The grant will support the development of the Milestone Index for women business owners of real estate and professional services.
• Paradigm for Parity Inc: The grant will support the organization’s Profit & Loss Leadership Accelerator program with spaces dedicated for REIT professionals.
• Project Destined: The grant will support a REIT curriculum for a REIT-dedicated bridge program.
• Robert A. Toigo Foundation: The grant will support the creation of an online job and professional services platform for diverse graduate-level talent to help them find jobs, attend events, and join networks in commercial real estate.
• S. Black Chambers, Inc: The grant will support a small business cohort program that will focus on contracts and procurement.

“The work that these nine organizations do is critical and will help the REIT industry continue to make tangible progress on improving diversity, equity, and inclusion across our workplaces, businesses, and communities,” said Nareit President & CEO Steven A. Wechsler. “Together, DDEI donors and our grant recipients are paving the way for the next generation of diverse REIT executives, employees, tenants, investors, and suppliers.”

“Through these types of partnerships, we will be able to directly connect the mission of our foundation and commitment of our industry leaders, to the communities in which REITs operate every day,” said Nareit SVP of Social Responsibility & Global Affairs Ayris T. Scales. “Our collective approach to help close systemic gaps has not wavered, and I am thrilled to see our vision of what we could achieve, start to become a reality.”

Throughout 2024, Nareit will share the stories, programs, and progress of the DDEI grant recipients on REIT.com.

DDEI Giving Campaign Supported by More Than 40 REITs

The Nareit Foundation DDEI Giving Campaign was launched in 2022 under the leadership of Nareit’s DDEI CEO Council Philanthropy Committee, chaired by Thomas A. Bartlett, CEO of American Tower Corporation. The campaign was supported by Nareit and more than 40 Nareit member REITs or their philanthropic organizations. Lead founding donors for the campaign included American Tower Corporation and Prologis, Inc.