Third Party Assessment

GRESB Real Estate Assessment

GRESB is an annual benchmarking assessment to measure ESG (Environmental, Social, and Governance) integration of real estate companies and funds. It was founded in 2009 by a group of major European pension funds who played leading roles in launching Principles for Responsible Investment (PRI). The GRESB Real Estate Assessment is characterized by evaluating sustainability initiatives of real estate companies, REITs, and real estate funds, rather than targeting individual real estate.

In the 2025 GRESB Real Estate Assessment, INV received a "3-Star" GRESB Rating for the third consecutive year, which is based on overall GRESB scores and its quintile position among participants. INV was also awarded a "Green Star" designation for the fifth consecutive year by achieving high performance in both the "Management Component" that evaluates policies and organizational structure for ESG promotion, and the "Performance Component" that assesses environmental performance and tenant engagement of properties owned.

Further, INV was highly evaluated for its ESG information disclosure efforts and received an "A Level" the highest level for GRESB Public Disclosure for the fifth consecutive year, which assesses the breadth of ESG disclosure.

Please refer to the press release for details.
"Notice concerning GRESB Real Estate Assessment Results" dated October 3, 2025 (PDF)

CDP Climate Change Program Assessment

CDP is a global non-profit that runs the world's only independent environmental disclosure system for companies, capital markets, cities, states and regions to manage their environmental impact.

CDP applies a rigorous and independent methodology to evaluate disclosure quality, risk awareness, environmental management, and evidence of best practice. Scores range from A to D- with eight levels, based on their performance across four key areas: Disclosure, Awareness, Management, and Leadership, reflecting the degree of ambition, goal-setting and concrete action.

INV participated in the CDP Climate Change program for the first time in 2025 and obtained a "B" rating for climate change.

CASBEE Certification for Buildings and Certification for CASBEE for Real Estate

CASBEE is a method that comprehensively assesses the quality of a building, and evaluates features such as interior comfort and scenic aesthetics, in consideration of environment practices including use of materials and equipment that save energy or achieve smaller environmental loads.

CASBEE Certification for Buildings (Existing Buildings) scores buildings based on the environmental quality and the environmental load reduction of buildings that are at least one year old after completion. Assessment results by CASBEE are indicated on a scale with the following five ranks: Rank S "★★★★★", Rank A "★★★★", Rank B+ "★★★", Rank B- "★★", and Rank C "★".

Certification for CASBEE for Real Estate was developed with the aim of making use of the results of the environmental assessment of buildings by CASBEE in real estate evaluation. It scores buildings under each of the evaluation items in five categories, comprising "1. Energy & Greenhouse Gases", "2. Water", "3. Use of Resources & Safety", "4. Biodiversity & Site", and "5. Indoor Environment". Based on the scores, assessment results are given one of four ranks: Rank S "★★★★★", Rank A "★★★★", Rank B+ "★★★", and Rank B- "★★".

INV acquired CASBEE Certification for Buildings (Existing Buildings) for five hotels, and Certification for CASBEE for Real Estate for three hotels and three residential properties as follows.

CASBEE Certification for Buildings (Existing Buildings)

Hotel MyStays Premier Akasaka

　

Hotel MyStays Premier Kanazawa

　

Hotel Epinard Nasu

　

Hotel MyStays Yokohama Kannai

　

Hotel MyStays Sapporo Station

　

Certification for CASBEE for Real Estate

Royal Parks Momozaka

　

Royal Parks Shinden

　

Royal Parks Seasir Minami-Senju

　

Hotel MyStays Premier Sapporo Park

　

Art Hotel Nippori Lungwood

　

Art Hotel Asahikawa

　

Please refer to the press release for details.
"Notice concerning Acquisition of CASBEE Certification for Buildings, Certification for CASBEE for Real Estate, and BELS Certification" dated March 31, 2023 (PDF)
"Notice concerning Acquisition of CASBEE Certification for Buildings and Certification for CASBEE for Real Estate" dated March 25, 2024 (PDF)
"Notice concerning Acquisition of CASBEE Certification for Buildings" dated May 24, 2024 (PDF)
"Notice concerning Acquisition of Certification for CASBEE for Real Estate and DBJ Green Building Certification " dated May 15, 2025 (PDF)

BELS Certification

BELS is the third-party certification system that evaluates and certifies the energy-saving performance of a building that the operators are required to make efforts to display under the Act on Improving Energy Consumption Performance for Architectural Structures. Houses and buildings are evaluated based on the value of BEI (Building Energy Index) derived from the primary energy consumption based on the government-designated energy consumption performance standard of architectural structures. The evaluation result is rated on a five-star scale based on energy conservation performance (from one star "★" to five stars "★★★★★"), with five stars meaning the highest energy conservation performance. Also, two stars or more represent that the building meets the existing energy conservation standard. (2016 fiscal year standards)

INV acquired BELS certification for 19 hotels as follows.

Hotel MyStays Premier Akasaka

　

Hotel MyStays Fukuoka Tenjin

　

Hotel MyStays Yokohama Kannai

　

Hotel MyStays Oita

　

Hotel MyStays Haneda

　

Hotel MyStays Matsuyama

　

Hotel MyStays Premier Kanazawa

　

Hotel MyStays Sapporo Station

　

Hotel MyStays Fuji Onsen Resort

　

Hotel MyStays Kanda

　

Hotel MyStays Aomori Station

　

MyStays Shin-Urayasu Conference Center

　

Hotel MyStays Sakaisuji-Honmachi

　

Hotel Epinard Nasu

　

Hotel MyStays Kyoto-Shijo

　

Hotel MyStays Fukuoka-Tenjin-Minami

　

Hotel MyStays Hakodate-Goryokaku

　

Hotel MyStays Hamamatsucho

　

Hotel MyStays Midosuji Honmachi

　

Please refer to the press releases for details.
"Notice concerning Acquisition of BELS Certification" dated November 15, 2022 (PDF)
"Notice concerning Acquisition of CASBEE Certification for Buildings, Certification for CASBEE for Real Estate, and BELS Certification" dated March 31, 2023 (PDF)
"Notice concerning Acquisition of BELS Certification" dated January 25, 2024 (PDF)

DBJ Green Building Certification

DBJ Green Building Certification Program was launched by the Development Bank of Japan Inc. for the purpose of supporting the properties which give proper care to the environment and society. The program evaluates, certifies and supports properties which are required by society and economy. It makes comprehensive assessment of properties, while evaluating various factors which range from properties' environmental features to their communication with stakeholders, such as disaster prevention and proper care for surrounding communities. The assessment results are given one of five ranks, from one star to five stars.

INV acquired DBJ Green Building Certification for 12 hotels as follows.

Art Hotel Osaka Bay Tower & Solaniwa Onsen (Note 1)

　

Hakodate Kokusai Hotel

　

Art Hotel Ishigakijima

　

Hotel MyStays Premier Narita

　

Fusaki Beach Resort Hotel & Villas

　

Art Hotel Kokura New Tagawa

　

Kamenoi Hotel Beppu

　

Hotel MyStays Sapporo Aspen

　

Art Hotel Morioka

　

Tateshina Grand Hotel Takinoyu

　

Irago Ocean Resort

　

Kirishima Kokusai Hotel

　

（Note 1）

The certification is granted to "Art Hotel Osaka Bay Tower", the hotel portion of the property.

Please refer to the press releases for details.
"Notice concerning Acquisition of Certification for CASBEE for Real Estate and DBJ Green Building Certification" dated May 15, 2025 (PDF)
"Notice concerning Acquisition of DBJ Green Building Certification" dated May 29, 2026 (PDF)

Green Key Certificate

Green Key Certificate is a prestigious international eco-label given to environmentally friendly accommodation and leisure facilities and is a certification system established by the Foundation for International Environmental Education (FEE), headquartered in Denmark. There are no ranks for the certification.

INV acquired Green Key Certificate for one hotel as follows.

Sheraton Grande Tokyo Bay Hotel (Note 1)
　

(Note 1)

The property is the underlying asset of the preferred equity interests as defined in Article 2, Paragraph 9 of the Act on Securitization of Assets.

Sakura Quality An ESG Practice

Sakura Quality An ESG Practice is an ESG certification for accommodation facilities originating in Japan, aimed at maintaining and improving the level of SDGs initiatives in areas such as community engagement, cultural preservation, and environmental practices within the hospitality industry. It is an international certification system approved by the Global Sustainable Tourism Council (GSTC) and is evaluated on a five-level rating scale.

INV acquired Sakura Quality An ESG Practice for two hotels as follows.

Hotel MyStays Premier Akasaka

　

Fusaki Beach Resort Hotel & Villas

　

JCR Green Finance Framework Evaluation

INV has obtained "Green1 (F)" rating, the highest rating in the "JCR Green Finance Framework Evaluation", from Japan Credit Rating Agency, Ltd. ("JCR").


For details, please refer to "Green Finance" and followings
INV's Green Finance Framework (as of June 2024) (PDF)
JCR Green Finance Framework Evaluation

The List of Certified Properties

The following is a list of INV's Certified Properties. (as of May 2026)

(Note 1)

The certification is granted to "Art Hotel Osaka Bay Tower", the hotel portion of the property. The acquisition price includes the amount for Solaniwa Onsen.

(Note 2)

The property is the underlying asset of the preferred equity interests as defined in Article 2, Paragraph 9 of the Act on Securitization of Assets.

(Note 3)

Number of Certified Properties excluded the duplicates if the same properties have multiple certifications.