For more than 20 years, Leader in the Light® has recognized Nareit member REITs that implement responsible business practices and engage stakeholders to create value and drive positive impacts in communities, within their portfolios, and across the REIT industry.
2027 Leader in the Light Award Applications Now Open
The Leader in the Light Awards have evolved over the years to reflect the role of sustainability and social responsibility in the REIT industry. The 2027 awards recognize the various ways REITs are embedding sustainable practices into core business operations and real estate investment portfolio strategies.
Award Categories
- Transparency: Recognizes REITs that are providing comprehensive and decision-useful information on the company's environmental and social opportunities and risks, including meaningful performance metrics, and demonstrate strong corporate governance.
- Operations: Recognizes REITs that are embedding sustainability and social responsibility into real estate portfolio operations, which result in measurable impact and improvements to asset performance.
- Responsibility: Recognizes REITs that are implementing responsible business practices that result in a measurable positive impact on key stakeholders, including their workforce and/or the communities they serve.
Award Recognition
Up to three REITs are recognized in each category: one “Large-Cap,” one “Mid/Small-Cap,” and one “Judges' Choice.”
- Large-Cap: REITs Over $10B in Market Cap (listed) or Net Asset Value (non-listed).
- Mid/Small-Cap: REITs Under $10B in Market Cap (listed) or Net Asset Value (non-listed).
- Judges' Choice: May include REITs in unique sectors, small REITs, and/or REITs implementing unique solutions to specific industry challenges.
Thresholds are based on total market capitalization (market cap) for publicly listed and net asset value (NAV) for non-listed REITs.
Award Application
Applications must be submitted via the online form.
Preview the information required for the Leader in the Light Awards application.
2026 Leader in the Light Awards Recipients
Learn more about the 2026 Leader in the Light Awards recipients and their industry-leading strategies that demonstrate the various ways sustainability and social responsibility drive value and create a positive impact.
Recognizing 20 Years of Awards
2005-2026 Leader in the Light Awards Recipients