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The Ledger
Thought Leadership in Investment Strategy & Capital Markets


Research Review: ECB Study Quantifies Climate Risk Discounts in CRE
New ECB data shows climate risk is no longer a theoretical threat in commercial real estate. It’s being priced into asset values, liquidity, and investor behavior. From physical risk discounts to the premium on future-ready assets, the shift is reshaping capital flows across the eurozone.
Jun 12, 20254 min read


Strategic Insight: Rethinking Underwriting — How Machine Learning is Reshaping CRE Modelling
Retrofitting is no longer a technical upgrade, it's a central investment decision. As regulatory pressure and ESG mandates reshape the market, traditional underwriting struggles to keep pace. This article explores how probabilistic modelling and machine learning offer investors a strategic edge, helping them navigate lease constraints, capital timing, and retrofit complexity with greater confidence.
May 27, 20255 min read


Operational Strategy: The Quiet Legal Innovation Powering Europe’s Green Office Revolution
Green leases are emerging as powerful legal tools in Europe's push to decarbonize its office buildings. From retrofit cost-sharing to enforceable ESG clauses, these contracts are reshaping asset value and regulatory risk. Discover how a quiet legal evolution is driving a green office revolution, clause by clause.
Apr 23, 20253 min read

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