To help overcome diversity challenges in the industry, global real estate investment firm Hines Interests L.P. will invest $90K to help women in commercial real estate get their start and advance through the ranks.
While gender diversity in the commercial real estate sector has improved in recent years, the industry remains largely male and according to CREW, the income gap is still sitting at 23.3%.
To help combat this problem, Hines will disburse capital over a period of three years to the Urban Land Institute and its Women’s Leadership Initiative, which represents the voices of women in the real estate and land use industries, Pensions & Investments reports.
A portion of the money donated by Hines will also be used to create a joint grant program called the WLI Hines Innovation Grants. The grants will go toward funding events and activities hosted by WLI.
WLI was founded in 2012. In addition to promoting the advancement of women, the organization conducts and releases comprehensive research, including surveys, that examine the state of women in leadership positions in order to promote inclusivity.
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