Blackstone’s Legence Acquires ESG Consulting Firm
By Greg Cornfield May 1, 2024 2:20 pm
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An entity run by the world’s biggest commercial real estate company has acquired a firm focused on environmental, social and corporate governance (ESG) strategies.
Legence, a Blackstone (BX)-run provider of energy efficiency and sustainability solutions for the built environment, announced it acquired Corporate Sustainability Strategies, a commercial real estate sustainability consulting firm run by Brenna Walraven, for an undisclosed amount.
“Joining Legence’s family of more than 5,000 team members will expand our opportunities to exceed client satisfaction and deliver impactful, high-performance outcomes across the real estate sector,” Walraven said in a statement.
The deal with Huntington Beach, Calif.-based CSS extends Legence’s expansion, which includes other recent acquisitions of P2S, A.O. Reed & Co. and OCI Associates. It should also strengthen Legence’s sustainability practice, which aims to make properties more energy efficient and save clients money. CSS will also merge with Legence’s RE Tech Advisors, a consultant firm in Tysons Corner, Va.
“As a woman-owned organization with a deep commitment to corporate responsibility and positive change, CSS aligns perfectly with Legence’s mission to accelerate sustainability in the built environment and enhance in-house expertise,” added Deb Cloutier, chief sustainability officer of Legence and president of RE Tech.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
