Responsibility

Our responsibility extends beyond our company: it is to the residents we serve, to our stakeholders and to the wider community. We understand that the decisions we make today shape the growth and wellbeing of tomorrow.

Upholding our responsibilities

We actively invest in strategies that promote environmental stewardship, social equity and effective governance. It is the foundation of our business strategy, vision and values.

Dermot’s award-winning responsibility strategy has proven it not only enhances our investments and operations but also the lives of residents and communities. In 2023, Dermot was selected as the winner of the Pension Real Estate Association (“PREA”) Emerging Manager ESG Award. The award acknowledges companies who are leading the way in integrating ESG considerations into their real estate investment strategies.

Our Roadmap to a Responsible Future
Clear vision with measurable targets.
Environmental Goal

Enhance sustainability by lowering emissions, bolstering resiliency and incorporating green building practices throughout our portfolio to promote a more environmentally responsible future.

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Reduce energy intensity by 40% by 2030, from a 2020 baseline

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Reduce water intensity by 15% by 2030, from a 2020 baseline

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Reduce GHG emissions intensity by 40% by 2030, from a 2020 baseline

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Achieve green certifications for 100% of our owned portfolio by 2027
*The stated environmental ‘targets’ represent important objectives, but there is no guarantee that the stated ‘targets’ will be achieved. Additionally, Dermot reserves the right to amend and/or restate the stated goals and targets, in its sole discretion.
Social Goal

Support an engaged, diverse and inclusive workforce while prioritizing both employee and resident health and satisfaction.

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Hold three or more charity events annually, promoting philanthropic and social responsibility to residents and employees.

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Conduct four or more training sessions per year, educating employees and partners on effective ESG and DEI strategies with each session accommodating at least 65% of the total workforce.

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Increase employment engagement and participation in ESG initiatives by 30% from a 2023 baseline.

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Track effectiveness of wellness initiatives by conducting annual engagement surveys, achieving a minimum participation rate of 50% for employees and 30% for residents.
*The stated social ‘targets’ represent important objectives, but there is no guarantee that the stated ‘targets’ will be achieved. Additionally, Dermot reserves the right to amend and/or restate the stated goals and targets, in its sole discretion.
Governance Goal

Promote a team that aligns with our company values, advances our organizational sustainability expertise and improves our risk management and oversight processes.

Enhance Diversity Data by 2025
Implement internal processes and reporting technology to more accuratelymeasure diversity of employees.
Increase Educational Tools
Provide annual ESG, sustainability and climate risk training to all corporate and property-level teams, with a target participation rate of at least 65%.
More Diverse Partners
Increase equitable partnerships by identifying three or more new certified diverse suppliers annually, fostering inclusion in our procurement practices.
Impact in Action
Building initiatives driving long-term sustainability across our portfolio.
Window Installations

Many of our residential units feature double-paned windows. This superior installation results in lower energy consumption for heating and cooling, contributing to a more sustainable living environment.

LED

The majority of our buildings will incorporate LED lighting in all common areas. This strategy reduces energy consumption, cuts costs, and enhances lighting quality.

Replacement of Steam Packaged Terminal Air Conditioners (PTAC)

Air-source heat pumps (ASHP) and smart thermostats have been upgraded in many properties to reduce energy usage and lower carbon emissions. Together, these optimize energy usage for further savings.

Smart Kit AI

Smart Kit AI monitors carbon emissions from core building systems and reduces energy usage through smart thermostats and building automation systems. Our New York City buildings are grid-interactive, allowing residents and managers to reduce energy usage during peak demand and high carbon intensity periods.

Solar

Solar energy can help to reduce emissions, promote energy independence and achieve cost savings. At Cordoba Apartments in Doral, FL, solar panels installed on the parking garage roof are projected to offset 50% of the building's energy usage. Dermot plans to implement similar solar strategies at other properties across its portfolio.

Green Certified Buildings

Our operations strategy integrates sustainability measures to ensure we provide exceptional living spaces now and in the future. This means we are using the latest in sustainable design, construction and smart technology to build a portfolio of green certified buildings.

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LEED, NGBS, and Green Globes Certifications

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IREM CSP
Certifications

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Fitwel
Certifications
*Data is reflective of 2023 CY information for owned and managed properties.
Doing More Through Sustainability Education

By implementing strategies for environmental sustainability, we create healthier living spaces for residents while also reducing operating costs.

It is our goal to do more by educating residents on the power of sustainable practices, energy management awareness and the positive impact individuals can make on both their communities and the environment.

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Decrease in energy usage intensity since 2020

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Decrease in water consumption intensity since 2020

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Buildings enrolled in New York Department of Sanitation’s composting

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Of our locations offer convenient textile collection bins

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Of our locations provide e-waste collection services
*Data is reflective of 2023 CY information for owned and managed properties.
Creating a Welcoming Community: Our Initiative on Belonging

We build an environment of inclusivity through Project D.E.R.M.O.T., a set of guiding principles used to deliver a rewarding experience for our team, residents and partners.

D.E.R.M.O.T.

Diversity refers to each personal, unique experience, background, identity, status and preference. Our individuality and authenticity are strengths and collectively makes Dermot great.

D.E.R.M.O.T.

Equity means information and fair policies, procedures and practices are accessible to all members of the Dermot community. We endeavor to prioritize opportunities that are meaningful to the individual.

D.E.R.M.O.T.

Resilience is Dermot’s responsibility to our purpose and ethics even in changing or challenging times.

D.E.R.M.O.T.

Mindfulness is our continual pursuit of awareness in our choices to achieve a state of holistic health. Dermot chooses to take an active role in creating one that positively impacts our communities.

D.E.R.M.O.T.

Outcome is a key measure of the success of our programs and decisions. Fueled by innovation and engagement, our focus is placed on purposeful and impactful changes and results.

D.E.R.M.O.T.

Togetherness allows all of us to be ourselves and becelebrated for our uniqueness. We purposely invest in ourselves and others andrecognize the value of each individual voice which leads to cohesion withinour community.

Our Dermot community
is our primary asset

Dermot actively fosters an inclusive, equitable environment for our increasingly diverse community. Our ability to achieve business goals and further grow our footprint rests on our continued commitment to elevating all of us.

This starts by building a place of inclusivity throughout our organization, within our communities and in the companies with which we partner.

By prioritizing diversity and inclusivity, we can encourage diversity of thought, differing perspectives, innovation and ultimately better serve our communities and partners.

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%
of our employees
identifying as female

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Racial / Ethnic
diversity
Social Impact

Committed to Meeting the Needs of the Community
Our investment strategy places an emphasis on social impact within the communities we serve. We do this through a focus on health and wellness, affordable housing and our Dermot Ignite program.

Health and Wellness
We create living experiences and cultivate working environments that prioritize health and wellness. At our properties, we have implemented programming and amenities that contribute to healthy living. We have also spearheaded programs dedicated to enhancing employee experiences through engagement activities, team building and community involvement.

Affordable Housing

Dermot has more than 20 years of addressing and supporting affordability programs across its portfolio with nearly 1,000 affordable apartments to date. Over half of Dermot properties incorporate an affordable housing component, providing affordably priced units to residents in the community.

Investing in affordable housing is essential for creating a resilient social fabric within our greater communities.

Placing social impact within our investment strategy creates value in the communities we serve.  Dermot’s sizable affordable housing portfolio supports housing across income levels while also helping the company achieve healthier financial returns. Affordable units are located in some of our properties, creating top quality affordable homes for inclusive communities.

Our experience-based resident social club, Dermot Ignite, is a comprehensive social programming initiative onsite at our communities.

It encourages connectedness, engagement and builds community. We believe this is the cornerstone of resident retention and happy communities.

Reports

Measuring and monitoring impact yields stronger results. See our collection of ESG Reports here.

2022 | 2023
ESG Report
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2021
ESG Report
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2020
ESG Report
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