AXA IM Alts Achieves BREEAM Certification for U.S. Logistics Portfolio

In 2022, AXA IM Alts set out to certify its entire U.S. logistics portfolio, which consists of approximately 15.8 million square feet. Just two years later, in late 2024, AXA IM Alts successfully secured BREEAM certification across 100% of its U.S. logistics assets — an impressive and ambitious accomplishment. 

Certification was completed in phases, with RE Tech Advisors and Facilities Commissioning Resources providing third-party assessment to certify the first batch of assets and Longevity Partners certifying the remaining 19 assets.  

The portfolio, which mainly includes non-refrigerated warehouses across major U.S. markets, represents the first entire portfolio of industrial assets to achieve BREEAM certification in the U.S. 

Pursuing certification for an entire portfolio of U.S. logistics assets presented a significant undertaking and required extensive coordination with tenants and property management teams to navigate logistical and operational challenges.  

One of the primary hurdles was securing access to tenant-occupied properties, as many of AXA IM Alts’ warehouses operate under triple net leases. Tenants were not always willing to provide access for site assessments, and obtaining the necessary documentation for certification proved to be a complex process. Despite this, AXA IM Alts remained dedicated to the BREEAM certification process. Through consistent collaboration with property management teams and proactive engagement with tenants, AXA IM Alts was able to align with stakeholders on key goals, enabling necessary site access and the open sharing of available construction documentation. 

This extensive effort was essential to ensure that third-party assessors had all the information needed to paint an accurate picture and evaluate how each property performed against BREEAM criteria.

To navigate documentation challenges and site access restrictions, AXA IM Alts adopted a phased approach to certification, extending initial deadlines to allow for a thorough assessment without compromising quality. AXA IM Alts has applied learnings from this process for future certifications, tactically shifting to begin the certification process earlier, ensuring a more flexible timeline that supports proactive engagement of property management teams and technical stakeholders.  

Looking ahead, AXA IM Alts is continuing to leverage insights from the certification process to inform future asset improvements. Early recommendations include transitioning all portfolio lighting to LED with sensor controls and implementing standardized three-stream waste management systems. As recertifications begin, these measures will provide a clearer, more data-driven overview of how AXA IM Alts has translated initial assessment feedback into long-term performance gains and value-add opportunities. 

BREEAM certification has provided AXA IM Alts with a standardized framework to assess and benchmark asset performance across multiple sustainability categories, helping the firm highlight high-performing assets while identifying properties where performance improvement poses a substantial opportunity. This has enabled the firm to go beyond traditional energy consumption metrics — gaining a more comprehensive understanding of portfolio strengths and weaknesses to arm them with actionable insights to optimize asset performance. 

Notably, BREEAM’s focus on climate risk and resilience has provided AXA IM Alts with valuable insights into both current efficiencies and opportunities to future-proof assets against potential environmental hazards. These insights help inform critical capital allocation decisions, allowing the firm to elevate long-term asset value while proactively addressing risks that could impact asset health now and in the future.  

Additionally, achieving BREEAM certification played a notable role in improving AXA IM Alts’ GRESB scores in both 2023 and 2024. Working alongside Longevity Partners, the firm continues to use assessment data to identify and prioritize targeted sustainability improvements across its portfolio.