Real Estate Industry Associations Join Forces to Promote Supplier Diversity
An industry-wide group of seven real estate trade associations has formed 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.
“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,” said Real Estate Roundtable president and CEO Jeffrey DeBoer. “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.