The Commercial Real Estate Diverse Supplier Consortium – CREDS

Roundtable and Coalition Partners Launch Industry-Wide Initiative to Advance “Supplier Diversity” in Real Estate

Posted on February 18, 2023January 31, 2024 by Trey Jackson

The Real Estate Roundtable and six national real estate trade associations this week announced a first-of-its-kind alliance that aims to foster supplier diversity throughout the industry. (News release, Feb. 14)

The Commercial Real Estate Diverse Supplier (CREDS) Consortium

The Roundtable is joined by CREW Network, ICSC, Mortgage Bankers Association, NAIOP, Nareit, and the National Multifamily Housing Council in the CREDS Consortium.
The CREDS Consortium aims to improve and accelerate opportunities for “MWBEs”—shorthand for firms owned by minorities, women, veterans, LGBTQ+ persons, and persons with disabilities – in the chain of vendors, service providers, and other suppliers that support the real estate industry. (CREDS Frequently Asked Questions)
The CREDS Consortium has initiated a pilot program with SupplierGATEWAY—a leading supplier management software platform and minority-owned firm that automates and simplifies supplier and vendor management. (Roundtable Weekly, Feb. 10)
SupplierGATEWAY provides software tools and a robust vendor database that allows real estate companies to track, report, and procure services and materials from MWBEs. Members of the CREDS associations can subscribe to SupplierGATEWAY’s platform at discounted rates through the end of 2024.
Upon this week’s CREDS Consortium launch, Real Estate Roundtable board member and chair of its Equity, Diversity, and Inclusion Committee, Jeff T. Blau (CEO, Related Companies), said, “Diversifying the supply chain in real estate must be a collective effort – and I am proud to be a part of this deeply impactful program. This vital work will help us lift up MWBEs and provide the industry with real tools to connect with these businesses and track spending. With partners like my fellow Roundtable board member, Ken McIntyre (CEO, Real Estate Executive Council) and the RER staff, together, we are on the road to expanding opportunity across the industry.”
Real Estate Roundtable President and CEO Jeffrey DeBoer said, “Owners, developers, and financiers of commercial and multifamily real estate are committed to help minority, women, and other historically under-represented entrepreneurs prosper in our great industry.”
“The CREDS Consortium can help our members realize their intentions to advance economic opportunities across the vast and varied supply chain that serves real estate, makes our buildings productive, and strengthens the fabric of our communities,” DeBoer added.

DEI and ESG Goals

SupplierGATEWAY tools that measure and track MWBE procurement spending can support companies’ efforts to advance environmental social and governance (ESG) and diversity, equity, and inclusion (DEI) goals. Hiring companies can also post their purchase orders and other contracting opportunities through the CREDS portal to be matched with potentially qualified MWBE firms.
CREDS associations’ members can subscribe—at a discounted price—to SupplierGATEWAY’s vendor management software and a comprehensive database of more than 1 million MWBE suppliers through the Consortium’s portal page.
SupplierGATEWAY Founder and CEO Ade Solaru said, “Our partnership with the CREDS Consortium is an important component of our mission to generate meaningful economic impact at scale for our customers. Each member of the CREDS associations can now create meaningful social impact at the local level without sacrificing efficiency, cost or risk.”

Next Steps

The CREDS Consortium also hopes to gain insights from the pilot program about supplier diversity trends across the commercial real estate industry to strengthen the program in the future.
Learn more about the CREDS Consortium pilot program. Interested companies can contact Julian So ( julian@suppliergateway.com) to schedule a demo of the system.

More information on the initiative can also be provided by Roundtable Senior Vice President and Counsel, Duane Desiderio, and other points of contact listed at the end of the CREDS Consortium’s “ Frequently Asked Questions” document.

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The Real Estate Roundtable and Partner Real Estate Associations Join Together for the First Time to Expand Supplier Diversity Opportunities

Posted on February 14, 2023January 31, 2024 by Abigail Grenadier

The Commercial Real Estate Diverse Supplier (CREDS) Consortium is a first-of-its-kind coalition to provide more opportunities for minority- and women-owned businesses in the industry’s supply chain.

Washington, D.C. — Today, an industry-wide group of seven real estate trade associations announced a first-of-its-kind alliance to foster supplier diversity in real estate. The Commercial Real Estate Diverse Supplier (CREDS) Consortium aims to expand economic opportunities for businesses owned by minority- and women-owned businesses (MWBEs) in the chain of providers that supply the real estate industry.

In addition to The Real Estate Roundtable, CREDS Consortium associations include CREW Network, ICSC, Mortgage Bankers Association, NAIOP, Nareit and the National Multifamily Housing Council. CREDS Consortium associations will highlight tools that their members can use to identify, track, report, and procure products and services from MWBEs and companies owned by veterans, LGBTQ+ persons, and persons with a disability.

The Real Estate Roundtable’s President and CEO, Jeffrey DeBoer, said, “Owners, developers, and financiers of commercial and multifamily real estate are committed to help minority, women, and other historically under-represented entrepreneurs prosper in our great industry. The CREDS Consortium can help our members realize their intentions to advance economic opportunities across the vast and varied supply chain that serves real estate, makes our buildings productive, and strengthens the fabric of our communities.”

The CREDS Consortium has launched a two-year pilot program that will run through the end of 2024 with SupplierGATEWAY, a leading supplier management software platform and minority-owned firm that automates and simplifies supplier and vendor management. SupplierGATEWAY’s products include supplier sourcing, registration, risk management, compliance, and management—and provide support for corporate social responsibility, diversity, and inclusion goals.

Members of the CREDS associations can subscribe—at a discounted price—to SupplierGATEWAY’s software platform to search for, connect with, and potentially hire MWBEs as contractors, service providers, vendors, and joint venture partners. CREDS associations’ subscribing members can access the vendor management software and a comprehensive database of MWBE suppliers through the Consortium’s portal page, hosted by SupplierGATEWAY.

Hiring companies can also post their purchase orders and other contracting opportunities through the CREDS portal. Tools available on the platform that measure and track MWBE procurement spending will support companies that intend to advance environmental social, and governance (ESG) and diversity, equity, and inclusion (DEI) goals.

During the pilot program, the Consortium also hopes to gain broad insights into supplier diversity trends across the commercial real estate industry.

Visit Supplier Gateway to learn more about the CREDS Consortium pilot program. An FAQ document can be found here.

What CREDS Consortium partners are saying:

Wendy Mann, CEO, CREW Network

“As a global organization focused on accelerating success for all women in commercial real estate, CREW Network supports this partnership and initiative as an important business strategy to elevate ESG and DEI and create a more equitable industry for all. Women- and minority-owned businesses are a driving force behind economic growth and bringing this diverse talent to the industry is a business imperative. Companies that increase their diverse spend also see an increase in innovation and market share. It’s a win-win.”

Tom McGee, ICSC President & CEO

“ICSC is committed to advancing diversity, equity and inclusion in the Marketplaces Industry and giving our members ways to identify and source MWBEs is one way we can do this. The CREDS Consortium helps meet the growing demand for diversity in service providers and offers our members direct access to the tools and resources they need to support their own DEI goals. We are proud to be a founding member of the Consortium and look forward to working closely with the partner organizations to further this important initiative.”

Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association

“The Commercial Real Estate Diverse Supplier Consortium is a great resource for expanding DEI and ESG opportunities in the real estate finance industry. Our members will benefit from the consortium’s work to identify minority- and women-owned suppliers that provide essential products and services. MBA and its members are dedicated to supporting and promoting supplier diversity.”

Marc Selvitelli, CAE, NAIOP, the Commercial Real Estate Development Association

“NAIOP is proud to be a founding member of this important initiative. By working together, we believe this powerful alliance of real estate associations can propel our member companies’ success in achieving their important ESG goals. Facilitating access to a minority- and women-owned supplier database is an important first step in creating future opportunities between diverse vendors and developers and owners of commercial real estate.”

Steven A. Wechsler, President and CEO, Nareit

“Increasing the use of diverse service providers is an industry-wide priority that requires an industry-wide approach, which is why we are proud to be a founding member of the CREDS Consortium. The CREDS-SupplierGATEWAY partnership will enable Nareit’s members to leverage existing software and tools to more quickly increase diversity and inclusivity in their respective supply chains.”

Sharon Wilson Géno, President, National Multifamily Housing Council

“As a founding member of the Consortium, NMHC proudly continues our longstanding commitment to DEI as a business imperative that drives innovation and success. NMHC knows that connecting more buyers with more sellers, and measuring those connections, are essential steps toward a more robust market that benefits both multifamily firms and MBWE partners that help power the industry. As an alliance, the Commercial Real Estate Diverse Supplier (CREDS) Consortium can amplify our efforts to strengthen industry access for diverse suppliers, and support the ESG and DEI goals of our members.”

Ade Solaru, Founder and CEO, SupplierGATEWAY

“Our partnership with the CREDS Consortium is an important component of our mission to generate meaningful economic impact at scale for our customers. Each member of the CREDS associations can now create meaningful social impact at the local level without sacrificing efficiency, cost or risk.”

About The Real Estate Roundtable

The Real Estate Roundtable brings together leaders of the nation’s top publicly held and privately-owned real estate ownership, development, lending, and management firms with the leaders of major national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy.

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“Supplier Diversity” Platform Available to Roundtable Members

Posted on February 11, 2023January 31, 2024 by Trey Jackson

Real Estate companies interested in providing more economic opportunities to businesses owned by minorities, women, veterans and other under-represented groups can participate in a national “supplier diversity” program initiated by The Roundtable in coalition with allied trade associations. (Supplier Diversity’s FAQ)

SupplierGATEWAY Pilot Program

A leading vendor management company, SupplierGATEWAY, has joined The Roundtable and six other national organizations in a pilot program that runs through the end of 2024.
The pilot effort provides the software, database, and tracking tools to real estate companies with an interest in hiring small businesses and other entrepreneurs that have historically lacked fair and equal access to opportunities in the industry’s supply chain.
“MWBEs”—shorthand for firms owned by minorities, women, veterans, LGBTQ+ persons, and persons with disabilities—can register with SupplierGATEWAY’s comprehensive online database.
The database currently includes approximately one million MWBE “suppliers”— including consultants, contractors, building trades, service providers, joint venture partners, vendors and other enterprises.
MWBE developers, lenders, and capital providers can also register to be included in the database. (Supplier Diversity’s FAQ)
Hiring companies can track their discretionary procurement spending on MWBEs by subscribing to the database, vendor-matching software, and budget analysis tools at the discounted rate of $10,000 for 12 months. SupplierGATEWAY has offered this reduced rate to members of The Roundtable and our coalition partners through the pilot’s duration.
Participation in the program may assist real estate companies seeking to advance Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) goals.

Industry Coalition Launch Imminent

The SupplierGATEWAY pilot program is a unique industry-wide initiative of the Commercial Real Estate Diverse Supplier (CREDS) Consortium, which includes The Roundtable and six inaugural association partners.
An announcement of the CREDS Consortium’s formal launch is imminent.

Points of Contact

Roundtable members interested in subscribing to the SupplierGATEWAY platform should first receive a demo of the system by contacting Julian So at julian@suppliergateway.com.
Roundtable Senior Vice President and Counsel, Duane J. Desiderio (ddesiderio@rer.org), can also provide more information. (Supplier Diversity FAQ document)

Advancing supplier diversity goals across the CRE industry has been a priority of The Roundtable’s Diversity, Equity, and Inclusion Committee, chaired by Roundtable Board Member Jeff T. Blau, (CEO, Related Companies). Roundtable members and their key staff interested in joining the DEI Committee should contact Michelle Reid, Director of Membership Services (mreid@rer.org).

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