2022 ESG Report - Grubb Properties.pdf

Environmental, Social,
and Governance
2022 Grubb Properties ESG Report

2 | 2022 Grubb Properties ESG Report
GRUBB PROPERTIES ESG
POLICY STATEMENT
Grubb Properties has integrated Environmental, Social, and
Governance priorities across all areas of the company, identifying
ESG risks and opportunities in our investments, developments,
and operations and management processes. Our commitment
to incorporating ESG principles into our decision-making and
strategy manifests in key ways, including our completion
of annual GRESB assessments, the leading benchmark and
reporting standard for the real estate industry.
We have six key ESG initiatives integrated across all departments
and teams at our company, ensuring the resiliency and
sustainability of our assets as well as creating a beneficial impact
on our assets’ surrounding environments and communities. They
are: housing affordability, environmental stewardship, business
ethics and integrity, transportation innovation, responsible supply
chain, and community engagement.
Disclaimer
This report contains and is based on internally and externally sourced information that Grubb Properties believes is reliable,
but that has not been audited or otherwise verified by independent third parties. Investment valuations contained in this
report include estimates of unrealized values of investments determined by Grubb Properties in accordance with valuation
methodologies referenced in the applicable fund or joint venture documents or otherwise determined to be appropriate
by Grubb Properties. No representation or warranty is made as to the accuracy or completeness of the information or
valuations contained in this report. Any summary of a document contained in this report is qualified in its entirety by the full
referenced document. This report contains estimates of unrealized investment values and other forward-looking statements
that are based on assumptions that could prove incorrect and are subject to numerous other known and unknown risks
and uncertainties, any of which may cause actual results to differ materially from our expectations. This report contains
information regarding the historical investment performance of investments made by affiliates of Grubb Properties. Such
historical investment performance is not indicative of future results and there can be no assurance that unrealized current
investments or future investments will achieve comparable results.
Published December 2022 © All rights reserved
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

About Grubb Properties
• Company Overview
• Sidebar: Essential Housing
• By the Numbers
– 2022 Activity
– Property Green Certifications
– Our Footprint
– Sidebar: Link ApartmentsSM
– Workforce Statistics
– Awards
ESG Framework and Chart
Message from Clay Grubb,
Chief Executive Officer of Grubb Properties
Corporate Operations
• Management and Policy
– Grubb Properties’ Annual Investor Meeting
• Diversity, Equity, and Inclusion
• Team Wellness and Service
– CYKEL Apartments Wins Inspiring Building Award
– Grubb Properties Joins Lotus Campaign
• Operating Partner Services
Investment Operations
• Acquisitions/Dispositions
• Development/Construction
– The Five Pillars of Resiliency
• Community Impact
Property Operations
• Link ApartmentsSM
Design Process
• Transportation Innovation
• Measurement and Oversight
– State of the Young American Renter Survey
– Public Art Support
TABLE OF CONTENTS
06
12
04
13
24
30

Message from Clay Grubb
CEO of Grubb Properties
At Grubb Properties, we embed
ESG principles throughout
all aspects of our vertically
integrated company, both
because it is the right thing to
do and because we believe
it is the responsible business
decision. While the most
visible aspect of our integrated
ESG strategy is the efficient
design and operation of our
communities, we find ways
to integrate these initiatives
across all areas of our
business. We pursue these
principles from acquisitions
and investments to property
management, as well as in our
own corporate offices.
As we grow our portfolio and
company, we understand we
can make an even greater
impact. This is why we are
committed to pursuing green
certifications for all our new
development projects. It is also
why we have chosen six key
ESG initiatives that represent
our organization’s efficiency,
innovation, and governance, in
support of our primary mission
to help address the housing
affordability crisis in America.
These initiatives are:
1. housing affordability,
2. environmental stewardship,
3. business ethics and
integrity,
4. transportation innovation,
5. responsible supply chain,
and
6. community engagement.
To hold ourselves accountable
and understand how we
rank against the best in the
industry, Grubb Properties
annually participates in an
ESG Assessment done by
GRESB designed specifically
for the real estate industry. The
assessment is scored based
on best practices and the
industry’s near-term aspirations
– and the scoring standards
are raised each year.
With that backdrop, I am
proud to announce that Grubb
Properties has once again
improved our GRESB score
year-over-year both for our
standing investments and
our development assets. In
addition, our development
score beats both our peer
group average and the global
average GRESB scores. This is
even more impressive when
you consider that, as measured
by Gross Asset Value, we
are 68% smaller than our
Standing Investment peers
and 48% smaller than our
Development peers. I am proud
of our progress and the high
standards to which we hold
ourselves.
I am also proud to announce
that this year, we have added
another team member fully
dedicated to sustainable work
at Grubb Properties. Andy Zou
has joined as a sustainability
associate, elevating our
collaborative efforts with
his background in building
science, environmental
management, and corporate
sustainability. In addition,
Colin Walker, our sustainability
manager, this year became
the first ESG professional in the
nation to become an NGBS
Green PRO. This professional
designation validates green,
sustainable building design,
construction, and certification
expertise.
To build on this work in the
coming years, we will seek
to partner with organizations
that can help us improve our
goal-setting and discover new
solutions that are relevant
to our business. We look
forward to continuing to hold
ourselves to a high standard
in managing risk and pursuing
sustainability principles.
Thank you for your interest and
support.
Clay Grubb
CEO, Grubb Properties
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

Clay Grubb, CEO, with Habitat homeowner Amanda Piper.
2022 Grubb Properties ESG Report | 5

About Grubb Properties
Company Overview
With principles that have
remained steadfast for
60 years, we have taken
a different approach to
real estate, strategically
focused on essential housing.
Through the decades, our
company has continuously
evolved to be ever-more
impactful and higher
performing. Grubb Properties
is a vertically integrated real
estate fund manager focused
on multifamily development
and management nationwide.
Grubb Properties is
headquartered in Charlotte,
NC, with offices in Atlanta,
GA, Cary, NC, San Jose, CA,
and Winston-Salem, NC. The
company was founded in 1963
by Robert Grubb, who took a
distinctive approach to real
estate by creating housing for
those who had been “redlined”
from homeownership through
banks practicing a form of loan
discrimination.
Clay Grubb, our current
CEO, continues to build on
that legacy by focusing
on addressing the housing
crisis currently facing
our country. Through our
Link ApartmentsSM
brand,
Grubb Properties delivers
housing solutions targeted
to residents in the middle
of the income spectrum
(earning approximately 60%
to 140% of local area median
income), a category the
company terms “essential
housing.” Deploying highly
strategic investing, acquisition,
development, leasing and
property management,
Grubb Properties aims to offer
excellent quality of life for
our residents, to improve the
communities we work in, and
to realize good returns on our
investments.
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

ESSENTIAL HOUSING
The U.S. housing market is 3.8 million homes short
of what is needed to meet the country’s demand,
according to recent statistics from Freddie Mac. The
government agency estimates there has been a 52%
rise in the nation’s home shortage since 2018 – the result
of underbuilding for 10 years, with most of this shortage
in essential housing.
In addition, The Wall Street Journal found that up to 80%
of the 371,000 new rental apartments expected to be
built in 2020 were luxury properties, further amplifying
the shortage in essential housing.
Essential housing is the product for households in the
middle of the income spectrum, generally earning more
than 60% of a local area’s median income (AMI), putting
them above the cutoff for a public housing subsidy,
but less than 140% of that AMI, putting them below the
threshold to afford luxury housing.
The essential housing gap is influenced heavily by
the growing demographic demand from the large
Millennial and Gen Z generations who are already in,
or just entering the workforce. The road to lifestyle
independence and home ownership has gotten very
long for this population sector.
Grubb Properties helps to address this massive housing
crisis by developing, owning, and managing essential
housing product through its Link ApartmentsSM
brand.

GREEN CERTIFICATION
We have committed to a goal that all of our new development projects, whether multifamily
or commercial, will pursue a green certification. To date, 77% of our commercial or multifamily
properties have either earned a green certification or are in the process of being certified.
Number of properties – commercial or
multifamily – with green certifications:
Properties: 15 (27% of the portfolio)
Number of properties – commercial or
multifamily – pending a green certification:
Properties: 28 (50% of the portfolio)
97% of all our multifamily properties, totaling 7,507 units, have earned a green certification or are
pending certification.
Since December 2020, Grubb Properties’ general contractors have written more than $70
million in contracts with Minority and/or Women-Owned businesses for Grubb Properties
projects. (This is not part of an MWBE certification.)
Link ApartmentsSM
Communities
# Completed 13
# In process 20
Link ApartmentsSM
Units
# Completed 3,227
# In process 4,481
$ amount of assets acquired - $169,077,000
$ amount of assets sold - $46,175,000
$ amount of capital raised - $201,646,212
2022 Investment
Activity:
By the numbers
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

SENIOR MANAGEMENT – REGIONAL/DIRECTOR LEVEL AND ABOVE
b.
a. Gender
breakdown
96.0% White
a.
b.
b.
a.
Diversity
a.
b. 34.0% Female
66.0% Male
4.0% Non-White/Other
Under-Represented Communities
HR WORKFORCE STATS
b.
a. Gender
breakdown
51.3% Male
a.
b. 48.7% Female
a.
b.
c.
d.
Age group
distribution
41.5% Millennials
a.
c.
b.
d. 10.7% Baby Boomers
34.6% Generation X
13.2% Generation Z
Diversity
a.
b.
c.
d.
e.
f.
a.
c.
b.
7.7% Hispanic
d.
14.1% Black
e.
f.
3.3% Two or More Races
3.0% Other
67.5% White
3.0% Asian

• Sustain Charlotte Inspiring Building Project Award, 2022
– Cykel Apartments
• GlobeSt. Multifamily Influencer 2022 – Clark Spencer,
managing director
• Charlotte Business Journal Most Admired CEOs 2022 –
Clay Grubb, CEO
• Business North Carolina Power List 2022 – Clay Grubb,
CEO
• OpportunityZone.com Top 25 Fund Manager 2021 –
Clark Spencer, managing director
• GlobeSt. Multifamily Influencer 2021 and 2020 – Grubb
Properties
• epIQ Index – Top 10 Management Companies, 2021 –
Grubb Properties
• Sustain Charlotte – Inspiring Large Business Award 2021
Awards
• Charlotte, NC Headquarters
• 230 Grubb Properties Employees
• Over 7,500 Link ApartmentsSM
Units
Stabilized or Under Development
Markets
Headquarters
Office
Our Footprint
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

Grubb Properties’ primary solution to the nationwide housing
crisis is its Link ApartmentsSM
brand, which is focused on
intelligent design and resident amenities to provide a lower
cost, urban infill living opportunity. There are currently 13
Link ApartmentsSM
communities in eight cities, totaling 3,227
multifamily units, with 20 additional communities under
construction or in the pipeline. As a vertically integrated real
estate fund manager and developer, we acquire, develop,
and manage these communities, allowing us to ensure
quality throughout the community’s lifecycle.
In developing Link ApartmentsSM
, we focus on two key
differentiators: location and price point. We choose urban
locations that are near community amenities, transit options,
and major counter-cyclical employment anchors such as
universities and medical centers. We also target rents that
are affordable to residents in the middle of the income
spectrum (approximately 60% to 140% of local area median
income).
How are we able to achieve those prices in these target
locations, where virtually no other multifamily product is
being developed at this price segment? We drive value
through a variety of proven methods, such as innovative site
acquisition, shared parking, tax incentives, grants, and more.
For example, we focus on six highly efficient floor plan types
that we replicate across all our communities. This is far from
the industry norm.
We look at sustainability and ESG as an investment tool that
can drive down the recurring cost of utilities for our residents
while protecting the environment and the communities in
which we operate.

CORPORATE OPERATIONS
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ESG IMPACT
FRAMEWORK
ESG IMPACT
FRAMEWORK
Management & Policy
Conduct business with the
highest integrity, deploying
best practices in governance,
ethics and compliance, and
procurement.
Diversity, Equity & Inclusion
Embed, nourish and
continuously improve a culture
of diversity and inclusion as
a core part of our business
practices across every level
and at every step of our
business cycle.
Team Wellness & Service
Prioritize initiatives that support
the mental and physical health
of our team members, and
empower them to optimize
their professional success
and contributions to their
communities.
Operating Partner Services
Ensure that companies we work
with uphold our standards and
values.
At Grubb Properties, we
implement ESG practices
across the firm, our
investments and our
properties to deliver a positive
impact for our stakeholders.
Acquisitions/Dispositions
Deploy proprietary site-
selection requirements and
in-house and independent
underwriting, research and
review processes to strengthen
the resiliency of our portfolio
and capture prime acquisition
opportunities.
Development/Construction
Actively manage the
development and construction
of our properties to improve
and maintain efficiency across
our investments.
Community Impact
Build sustainable, vibrant
essential housing that provides
unique amenities and benefits
to residents and enhances the
communities in which they live.
Link ApartmentsSM
Design
Process
Deploy creative, inspired
and progressive building
design and smart technology
to support safe, cost-
effective, efficient, and clean
communities.
Transportation Innovation
Challenge parking- and car-
dependent development
and encourage and enable
residents and tenants to
use alternate forms of
transportation.
Measurement and Oversight
Monitor and audit utility
use and energy capital
improvements to enhance
building efficiency.
CORPORATE OPERATIONS INVESTMENT OPERATIONS PROPERTY OPERATIONS
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

MANAGEMENT POLICY
At Grubb Properties, we are
committed to pursuing top-
tier investment returns on
our real estate investments
while avoiding undue risks.
This principle has driven us to
build in safeguard and utilize
best practices to ensure that
we adhere to the most ethical
standards in the industry.
Anti-Corruption and Ethics
Sound corporate governance
is essential and something
we pursue throughout the
company. We link employee
remuneration to compliance
with governance measures,
require training on governance
risks, and enact disciplinary
actions in the case of a
breach.
Each employee, including
our executives, is required to
CORPORATE OPERATIONS
review and sign our Employee
Handbook annually, which
includes an extensive section
on ethics and best practices.
In addition, annual training is
mandated for all employees
to ensure they stay up to date
on current laws and best
practices.
Board of Directors
The members of our majority-
external Board of Directors
are chosen for their diverse
expertise and perspectives.
Currently, the board comprises
five men and two women,
including one man of color
and one woman of color. In
selecting new board members,
we consider numerous factors,
including integrity, judgment,
and breadth of experience. We
strive to maintain gender and
racial diversity to ensure that
all voices are heard. From their
respective diverse domains,
our board members help
Grubb Properties’ mission and
vision continously evolve.
Regular System and
Organizations Controls (SOC)
Audits
Grubb Properties undergoes
regular SOC audits, the results
of which are shared with
executive team members.
Disclosure to Investors
Transparency of our funds
and fund activity is core to
Grubb Properties’ business
philosophy and open and
regular communications are
the foundation. We provide
annual reporting, Quarterly
Investment Summary,
Individual Investor Fund
Statements, and electronic
delivery of tax documents,
among other communications.
The Grubb
Properties
Board
Eugene Flood
Jimmy Blackmon Joseph Gleberman
W. Clay Grubb Gaye Montgomery Laura Schulte Larry Tarschis

We conduct an annual
survey of our clients about
our communications and
platforms so we can improve
their experiences. In our 2022
survey, we asked respondents
to rank the information in our
quarterly report on a scale of
1 to 5, where 5 is outstanding.
The average score given
was a 4.1. We also hold an
Annual Investor Meeting to
give our investors the chance
to pose questions and hear
from us directly. We have
communications plans in
place to inform investors in the
event of any ESG incidents or
other major incidents affecting
asset performance.
Data security is also a high
priority. We have implemented
multi-factor authentication
for our investor portal and
have redesigned the portal
to provide easier access
and navigation between
investments, reports, and
important documents,
including electronic
submission for all fund
documents.
ESG Investment Strategy and
Investment Due Diligence
Climate risk, climate change
mitigation, and ESG issues are
a regular part of reporting on
acquisitions and development
projects. Regular memos and
reports on the property level
are given to our team vice
presidents, who then report up
to the company president and
the CEO.
Corporate Risk Assessment
We prepare for interruptions
to normal business practices
and have established policies
and plans around Disaster
Recovery and Business
Continuity. We regularly
examine these plans, and
our Critical Information
Technology Disaster Recovery
Plans are tested annually.
We perform ESG risk
assessment on all potential
acquisitions and dispositions.
Each new acquisition is
reviewed weekly on a number
of factors until it is stabilized,
and a full report and separate
financial tracking analysis are
prepared monthly for senior
team review. Once the asset
is stabilized, senior leadership
review a monthly Risk Rankings
Report which includes an
environmental risk score.
Accountabilities and
Reporting Lines
Responsibilities and reporting
lines are clearly defined
throughout the company
in order to maintain
accountability and ensure
compliance with our
governance principles.
Whistleblower Protections
In order to ensure that any
suspected unethical behavior
is investigated and exposed,
employees are encouraged to
contact either an immediate
supervisor or a member of
human resources if they see
a potential issue. If that is not
possible, or if an employee
is not comfortable raising
an issue to one of these
resources, then the issue may
be presented to an officer of
the company. Management
has committed to acting
quickly to address any ethical
concerns presented and
will not tolerate retaliation
against employees who raise
ethics concerns in good faith.
Confidentiality is maintained
whenever possible.
Other Ethics Policies
In addition to the policies
outlined here, we have
codified policies on bribery
and corruption, cybersecurity,
data protection, and fraud,
among others. All are included
in our Employee Handbook,
which each employee is
required to read, train on, and
sign each year.
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

Grubb Properties’ Annual Investor
Meeting
On October 26, 2022, Grubb Properties
welcomed more than 100 investors to
Charlotte for a two-day investor meeting.
The event provided investors with 2022
portfolio and fund highlights, as well as
the opportunity to hear from our senior
executives and visit four Link ApartmentsSM
communities in various stages of
development and completion in person.
Highlights included:
Charlotte
Greenway Bike
Ride
More than 20
investors joined
CEO Clay Grubb for
a bike ride along
the Stewart Creek
greenway to Blue Blaze Brewery to view
the future site of our upcoming car-free
development, CYKEL Apartments, located
across the street from the brewery.
Dianna Ward, Executive Director of Charlotte
Joy Rides, and Shannon Binns, founder and
Executive Director of Sustain Charlotte,
also joined the group on the bike ride and
spoke about the importance of alternative
transportation in the future of Charlotte’s
development, highlighting innovative
communities like CYKEL Apartments.
Investor Meeting
On the morning of October 27, Grubb
investors gathered for presentations on
Grubb’s performance, strategy, and plans for
2023.
Highlights included:
• Sherry Long, Senior Vice President of
Investor Relations, opened the meeting
and discussed planned improvements to
investor relations.
• Todd Williams, Chief Investment Officer,
gave an update on our growth and fund
performance across the portfolio. He also
debuted the results of our new State of the
Young American Renter Survey.
• Lauren Cahill, Senior Vice President of
Multifamily Development, spoke about
our New York City developments and how
we adapt the Link ApartmentsSM
product
and design in the new markets we are
entering.
• Annanias Rose, Vice President of Brand
Strategy and Innovation, explained how
the Link ApartmentsSM
brand connects
with local communities while staying true
to our brand and our essential housing
strategy.
• Mark Vitner, former Managing Director
and Senior Economist at Wells Fargo,
addressed the rising interest rate
environment and its impacts on the
markets we are entering.
• Clay Grubb, CEO, shared his excitement
about the growth of Grubb Properties,
including the new developments in the
pipeline and the experienced team
members we have in these markets.
Charlotte Bus Tour
Investors had the opportunity to take a bus
tour of some of our local Link ApartmentsSM
properties in various stages of development.
The tours were led by our investor relations
and development teams along with regional
property managers, project management,
and onsite team members.

DIVERSITY, EQUITY &
INCLUSION
Grubb Properties’ vision is to
work together to enhance
life and community. We
have long recognized that in
order to realize this vision, we
need to attract and engage
a workforce that is diverse,
while creating an equitable
culture in which everyone
feels they have an equal
opportunity to belong and
build a career. We believe
that hiring and recruiting the
best and brightest, embracing
and respecting each other’s
differences, and fostering an
environment of respect and
acceptance will enhance the
lives of our team members,
the communities around us,
and the experience of our
stakeholders.
Leadership & Strategy
We embed diversity and
inclusion in our business
practices and at every step
of our business cycle. Our DEI
commitment starts at the
top with our chief executive
officer and Board of Directors,
who are united in building
a diverse and inclusive
company. They expect
company leaders at all levels
to help create and sustain a
culture where everyone has
equal opportunity. Managers
are held accountable for
DEI training, performance,
and behavior in annual
performance assessments.
We work to ensure that
everyone can contribute
equally. For example,
our team members with
disabilities have access to
technology, resources and
training for a barrier-free
workplace. Specifically, our
corporate websites—as well
as all of those dedicated
to our individual property
developments—are ADA
compliant.
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

We continue to explore how
we can use leading practices
to advance DEI within our
firm. One example is our
requirement that all team
members undertake diversity
and inclusion training during
onboarding and annually
thereafter.
Talent Development & Pipeline
Fostering, communicating
and promoting a culture
of belonging is central to
how we attract and retain
talent—including diverse
talent. To improve diversity
representation at the
company, we are recruiting
talent in evolving ways. For
example, we have increased
our recruiting at historically
Black colleges and universities
(HBCUs) and partnered with
internship programs devoted
to Black and minority students
to fill both full-time roles and
internships.
The company continues
to implement many other
initiatives to reinforce diversity
of our workforce and foster
an inclusive workplace.
Among them is our policy that
provides incentives for diversity
and inclusion-focused hiring
objectives.
TEAM WELLNESS AND
SERVICE
Through a comprehensive set
of initiatives, we encourage
and empower our team
members to expand their
skills, take on new challenges,
prioritize their personal well-
being, contribute to the greater
good in our community and
reach their full potential. We
are dedicated to employee
growth and encourage internal
mobility.
Team Development
We promote employee
development through the
Grubb Properties University
Annual Reporting
To evaluate the effectiveness
of our hiring practices
and employee retention
initiatives, employee and
management statistics that
track trending gender and
ethnicity data are reported
annually and presented to
the Board of Directors and
senior management. The
report also includes a gender
and ethnicity pay equity
assessment comparing
salary and bonus data
across departments and by
career stage. No incidents of
discrimination were reported
in 2022.
As part of our commitment
to pay equity, we conduct
regular compensation and
promotion reviews to help
ensure employees are treated
fairly, regardless of their
gender, race, ethnicity, religion,
and sexual orientation or
identification.
Inclusion
Each year, we survey our
employees to measure their
perceptions of the company’s
inclusiveness. We gauge our
workforce’s opinions on a
variety of topics, including
employee engagement.
In the most recent survey
administered in August 2022,
the average engagement
score reported was a 3.44
out of a highest possible
4.00. We will continue to track
our performance annually
with the goal of addressing
areas identified as needing
improvement.

series, which provides
position-specific tracks to
give employees the most
updated tools, resources,
and training. Annual DEI and
Anti-Harassment training,
along with safety classes
and employee handbook
training, is also provided
to all employees. Tuition
reimbursement of $2,500 per
year is available for each team
member with managerial
approval. Every employee
receives an annual review with
their managers to reflect on
progress and set goals.
To support our employees in
fulfilling their potential, our
mentoring program pairs new
team members in certain
roles with mentors who train
them on their immediate
critical job functions and
our fundamental business
practices. This helps fill the gap
between hiring and regularly
scheduled training programs
and provides a resource
and relationship for ongoing
support. We also require
all employees to complete
annual workplace and sexual
harassment training, and
teams at Grubb Properties’
multifamily communities must
also complete Fair Housing
training.
Benefits and Compensation
The senior leadership at Grubb
Properties is committed to
investing in team members
with programs, resources
and support to optimize
their potential. We offer a
comprehensive benefits and
compensation package that
empowers our employees to
be their best—for the business,
for their families and for
themselves.
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Our competitive and
performance-oriented
compensation and
comprehensive benefits
packages are designed to
attract and retain a highly
talented and motivated
team. We routinely conduct
compensation reviews to
ensure that our people are
compensated fairly and
equitably for the work they do.
Our company-wide minimum
wage is $15 per hour,
providing competitive wages
for our national workforce
regardless of the laws of
the state in which team
members work. To help build
financial security for our
employees and their families,
the company contributes to
every employee’s 401(k) plan.
We also provide a discount
on rent at Grubb Properties’
multifamily communities:
30% for eligible multifamily
employees and 20% for all
other eligible employees.
Supporting the physical health
of eligible employees and their
families is another imperative
for us. To that end, we provide
100% funding for a medical
plan, and we fully fund life,
disability and AD&D insurance.
Families and employees
are further supported by a
robust offering of benefits
including company-funded
parental leave and flexible
work arrangements that help
employees achieve work/life
balance while also meeting
Grubb Properties’ business
needs.
Senior leadership recognizes
that our employees are
dedicated to enriching the
communities in which they
work and live. Regular part-
time and full-time employees
can accrue as many as 48
hours of paid time annually
that can be devoted to
volunteer activities. In 2022, our
workforce logged 131 of these
company-paid volunteer
hours. We provide paid time off
for our employees to vote in all
local and national elections.
As a sign of support for our
diverse workforce, we honor 12
holidays with full pay.
Workplace Wellness
Fostering healthy and
productive workplaces is a
priority at Grubb Properties.
We support the emotional
wellbeing of our workforce
with a comprehensive
Employee Assistance Program
that offers free counseling
services addressing a range
of emotional and physical
needs. Our Charlotte
headquarters office space
has enhanced wellness
features including a wellness
room, a workout facility,
robust cleaning protocols
and upgraded air ventilation
systems. Our headquarters
and many of our multifamily
communities are located near
greenways and biking paths
and include cycle centers to
encourage alternative forms of
transportation.

Employee Engagement
In our 2022 Employee
Engagement Survey, we asked
employees to rate a number
of statements from 1: Strongly
Disagree to 4: Strongly Agree.
Among the findings:
Community Volunteering
Ingrained in our culture is a
commitment to invest in ways
and places that maximize
our positive impact. We
endeavor to invest in projects
with community, social, and
environmental benefits,
making a positive difference
for our team members,
investors, and the communities
in which we operate. To that
end, we have an established
track record of community
service, and strive to make
volunteering and giving back
an integral part of working at
Grubb Properties and at our
Link ApartmentsSM
. Regular
part-time and full-time
employees get 48 hours of
paid time annually to devote
to volunteer activities, whether
company-sponsored or for
their own personal causes.
In 2006, we established
the Grubb Giving Project
committee to provide funds
to charities and encourage
volunteerism. The Project’s
Community Events Committee
finds and promotes regular
opportunities for team
members to participate in
local community volunteer
drives and events.
As befits a company
dedicated to building homes
and communities, Habitat
for Humanity has been our
primary focus. As of 2022, we
have sponsored eight homes,
sold four homes at below-
market rates, and donated
five lots. The total value of
our support to Habitat for
Humanity since 2018 exceeds
$502,000.
More importantly, we believe
that Habitat for Humanity is
a great fit for our employees’
skills and resources. We are
proud to participate in the
monumental effort to bring
housing to those less fortunate
and it has become an annual
tradition for us as a company
to roll up our sleeves and build
a house.
3.70/4
The statement
“I am proud to work for
this organization”
received a rating of
3.49/4
The statement
“Senior leadership’s
behavior is consistent with
our mission, vision, & values”
received a rating of
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Grubb Properties’ CYKEL Apartments
Wins Sustain Charlotte’s Inspiring
Building Project Award
Sustain Charlotte, a non-profit devoted to
advocating for smart growth solutions to
Charlotte’s sustainability challenges, named
Grubb Properties’ CYKEL Apartments as
2022’s Inspiring Building Project.
CYKEL Apartments, a 104-unit multifamily
development in Charlotte’s Seversville
neighborhood, will be a creative and
transformative project for the city – an
apartment community zoned and designed
without parking. Scheduled to open in 2024,
the development offers innovative solutions
to address environmental concerns and the
city’s shortage of affordable and moderately
priced housing.
Half of the units will meet affordability
standards for residents earning below 80% of
area median income. Not including parking
allows Grubb to build below-market-rate
units without any public subsidy.
CYKEL will encourage and enable a car-
free lifestyle through a biking-forward
design that includes a ground-floor cycle
center. The location, next to the Stewart
Creek Greenway, bus route, and streetcar
line, and one mile from uptown Charlotte,
also encourages alternative forms of
transportation. Residents will commit to
not owning a car as part of their lease
agreement.
Grubb Properties worked for months with
residents, city staff, and elected officials to
get approval for the rezoning. The company
also consulted with the local biking
community and architect Cluck Design to
help design the project and its amenities.
The number of bike racks and spaces
available to residents and the public, the
ground-floor cycle center with maintenance
features, and the state-of-the-art package
system for delivered goods will all support
our residents in making sustainable transit
choices.
CYKEL Apartments is the first project in
Grubb Properties’ Community Development
Initiative, part of its Qualified Opportunity
Fund program (now the Link Apartments
Opportunity Zone REIT). That fund program
allows Grubb Properties to direct capital
into Opportunity Zones, underserved
neighborhoods that had been overlooked
for investment. We created the Community
Development Initiative to target community
investments in Opportunity Zones in
Charlotte’s historic West End and allocated
10% of all the funds raised in the 2019 Grubb
Qualified Opportunity Fund to this initiative,
totaling $14 million.
We hope that CYKEL Apartments will serve
as proof of concept for a car-free lifestyle
in Charlotte and cities like it, prompting
residents and local officials to support
more transit-oriented development and
creative design. We believe this concept
could be replicated in other locations with a
similar greenway nexus, transit options, and
proximity to a business district.

OPERATING PARTNER SERVICES
Responsible supply chain practices impact all levels and teams of the company.
Even as we work to ensure that ESG principles are integrated into our own practices,
it is equally important to ensure that the companies with whom we work also uphold
our standards and values.
Information Gathering
To build an understanding of where our vendors are in terms of ESG priorities,
policies, and response to ESG risks, we survey certain contractors, suppliers, and
companies further down the supply chain who work with us on significant projects.
Specifically, we ask them about their practices around the following:
Environmental Issues
• Environmental Process Standards
– Energy efficiency
– Water efficiency
– Waste reduction
• Environmental impact reduction
– Proper handling of hazardous
chemicals
– Environmental Product Standards
– Use of recycled materials
– Use of locally-sourced goods
– Use of materials with lower
environmental impact
Governance Issues
• Business Ethics
– Corporate governance and
fiduciary responsibilities
– Policies against insider trading
and bribery
– Policies to prevent
discriminations
– Policies to promote sustainability
and corporate social
responsibility
Social Issues
• Human Rights
– Protections in place and/or
promotion of diversity based on
nationality, race, social status,
sex, gender, age, physical ability,
religion, culture and language
• Human Health-Based Product
Standards
– Identification and prohibition of
harmful chemicals/substances
– Reduction and/or mitigation of
harmful chemicals/substances
• Occupational Safety/Prevention of
Hazards
– Accidents
– Hearing loss
– Stress-related disorders
– Musculoskeletal and respiratory
diseases
– Carcinogens and cancer
– Communicable diseases
• Health and Well-Being
– Mental and physical health
– Employee-focused wellness
programs
– Non-employee-focused wellness
programs and community health
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In addition, we ask contractors
and suppliers about their own
ESG-related policies toward
sub-contractors.
Auditing
100% of our developments
are audited externally by
third-party agencies and
internally by dedicated ESG
staff on environmental and
social topics during design
and construction, to ensure
vendors and contractors
adhere to Grubb Properties’
ESG goals and principles.
Reporting and Monitoring
For acquisitions and projects
under development,
climate risk, climate change
mitigation, and other ESG
issues are a regular part of
reporting in weekly Investment
Committee meetings. In
addition, members of the
senior team receive monthly
reports for each project under
development that includes an
environmental risk score.
Senior leadership meets
monthly to review assets in
the standing portfolio, which
includes a report with an
environmental score, among
several other factors, that
informs decisions at both the
asset and the entity levels.
Climate change, climate risk
mitigation, and other ESG
issues are a regular part of
discussion in these meetings.
Externally, we report on ESG
goals and progress through
the Fourth Quarter Investor
Report, which is distributed to
all investors, and our annual
ESG Report. We also make
a public disclosure of our
goals and ESG focus areas
on our corporate website,
grubbproperties.com.
Grubb Properties Joins Lotus
Campaign, an Innovative Program
Designed to End Homelessness
Grubb Properties is pleased to participate
in Lotus Campaign’s efforts to end
homelessness in the Charlotte region.
Lotus Campaign provides a link between
for-profit landlords and developers, social
service agencies, and people experiencing
homelessness.
Based on a program started in 2018 by
Grubb Properties and the Chapel Hill-
Carrboro Chamber of Commerce, Lotus
Campaign has helped 372 people find
housing since 2018, including 262 who
bought a home, leased another apartment,
or renewed their existing lease after
completing the program.
Lotus serves as a bridge between nonprofits,
those who identify people at risk of
homelessness, and landlords. Lotus provides
tenants with the social services they need,
and provides economic incentives to
landlords to minimize their risks.

INVESTMENT OPERATIONS
As climate risk continues
to rise across the globe,
consideration of environmental
and sustainability factors has
become even more important.
ESG factors are an integral
part of the risk and opportunity
analysis that inform the Grubb
Properties team’s investment
decision-making. We also track
and measure environmental
factors throughout the
development and construction
process and into each asset’s
operational phase.
Acquisitions/Dispositions
When evaluating the potential
acquisition and disposition
of properties, we identify and
quantify climate-related risk.
We use the same climate-risk
data to determine whether we
should divest or adapt assets
purchased years ago when
climate-risk assessments did
not reflect current realities.
In January 2023, Grubb
Properties will begin a
partnership with Helios
Exchange, a risk analytics
platform for the real estate
industry, which helps identify
transition risk in order to
improve our operational,
capital planning, and
investment strategies.
Climate-related risks have
a profound effect on real
estate investments and
companies are increasingly
seeking credible action plans
to strengthen their business
models against the risks
associated with transitioning
to a net-zero carbon future.
It is in this context that
transition risks have become
strategically important for real
estate investors and must be
properly mitigated in order to
prevent stranded assets.
When looking at development
projects, our site selection
priorities include:
evaluate a property’s energy
efficiency potential with capital
improvements.
Once the evaluation, including
a specific environmental
score, is complete, the
final investment decision is
made by the eight-member
Investment Committee,
composed of senior Grubb
Properties executives. The
• Connecting to multi-modal transit
• Locating projects within existing developed areas
• Protecting/restoring/conserving habitats for native,
threatened and endangered species when possible
• Redeveloping Brownfield sites
To create a disciplined
and replicable process,
underwriting and research
functions are separate from
acquisitions. Research is
developed using internal
resources, subscription
services and through third-
party contracts.
As part of the evaluation
process, Grubb Properties
employs a third party to review
environmental condition, as
well as building condition. We
will often add experienced
specialists to review any
specific concerns raised in the
initial evaluation. In addition,
we typically hire a separate
engineering consultant to
Investment Committee
convenes weekly to review
and discuss all active pipeline
opportunities. They follow a
detailed approval process
from initial evaluation of an
opportunity to post-investment
after-action review.
We understand that climate
change repercussions will
increase displacement,
migration, gentrification, and
affordability challenges in the
markets where we operate. We
closely monitor the availability
of attainable housing and
local housing shortages in
these markets to find where
we can provide supply to meet
the demand
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Development/
Construction
During the development
phase, we perform
environmental site
assessments. We protect
surface water and aquatic
ecosystems by controlling
and retaining construction
pollutants. We manage
waste by diverting reusable
vegetation, rocks, and soil,
as well as construction and
demolition materials, from
disposal. We also exceed code
to handle increased storm
water runoff and increased risk
of water intrusion.
We collaborate with our
development partners
to include sustainability
strategies in the design phase
on a project-level basis. Many
of our partners and vendors
participate in our supply chain
survey on ESG priorities and
policies.
Once the property is
operational, we protect and
restore habitats and soils
that were disturbed during
construction.
Standing Portfolio
Every month, senior leadership
reviews a report for each
asset in the standing portfolio.
This report includes an
environmental risk score,
among several other factors,
that informs decisions at
both the asset and the
entity levels. This allows us
to create action plans to
mitigate new or persistent
risks, including targeted capital
improvements of operational
changes. We identify priorities
based on historical cases
of identified risks cross-
compared to the asset’s value
in proportion to the entire
portfolio.
A prime example is addressing
climate change’s increased
flood risk in low-lying coastal
areas. We increased our flood
modeling and analysis to
account for fluvial and storm
surge flooding. At some of our
standing investments, we have
installed flood sensors and
new water barriers.
Additionally, energy
efficiency, water efficiency,
and greenhouse gas (GHG)
emissions are analyzed
quarterly to identify leaders
and laggards in the portfolio.
Waste management and
tenant health risks are
addressed in the same effort.
Outliers or properties with
significant year-over-year
variance are examined more
closely by the Grubb Properties
sustainability, maintenance,
and property management
teams to identify remediation
strategies. The risks are
identified at a property
level and then brought to
executive leadership to
discuss remediation and how
to expeditiously mitigate the
concern.

Five Pillars of Resiliency
Informed by our decades of experience and extensive research, we
have identified five core pillars of resiliency that allow us to select
locations best equipped to handle inevitable downturns::
1) Climate-related risk: Avoiding climate-related risk is a critical
element in a resilient market strategy. While there are many
factors that can be controlled, flooding, rising tides and wildfires
are not among them. In addition to these “left tail” risks, climate
issues can raise risk premia for borrowers through higher
financing and insurance costs.
2) Presence of state and/or federal government: The public
sector often acts as a stabilizer during periods of economic
contraction, serving as a countercyclical force that dampens
the downside amplitude of normal economic cycles. Locations
near governmental centers often benefit from this downside
protection.
3) Presence of public and well-capitalized private universities:
Universities are national and historical magnets for innovation,
creativity, and professional/personal reinvention. In addition
to driving arts, culture and innovation into neighborhoods,
higher education institutions also tend to do well in economic
downturns as jobseekers often choose to further their education
in order to increase their employment options.
4) Presence of a highly developed hospital and medical
infrastructure: Medical infrastructure can be a permanent
source of growth, particularly as the aging of the large Baby
Boomer generation leads to greater demand for medical
services. In addition, medical facilities serve as a magnet for
young creative thinkers and problem-solvers.
5) Presence of a developed public transportation/biking
infrastructure: In addition to the environmental benefits of
reducing automobile traffic, a strong alternative transportation
infrastructure also provides for corridors of high-density
land utilization with efficient concentrations of housing and
employment. In addition, elimination of the cost of car ownership
reduces the cost of living, allowing for the reallocation of those
resources.
When coupled with our proprietary cyclical analysis and our well-
tested investment approach, we believe these resiliency pillars
give us another edge when choosing development locations and
managing risk.
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13

Community Impact
As multifamily developers
and operators, “community”
is at the heart of what we
do. Whether building and
maintaining community
within our Link ApartmentsSM
developments, or working
to better the communities
in which we operate, Grubb
Properties is committed to
building sustainable, vibrant
environments in which people
can live, work, and play.
Long-Term Resident Program
Longevity and stability build
community. We understand
the resident who needs and
wants essential housing, and
what matters most to them.
We work to enable them to
stay at our properties and
build true communities. Our
Long-Term Resident Program
caps rents for any resident that
lives at any of our properties
for at least five years. More
than 5% of our residents are
currently part of this program.
Challenging Parking- and
Car-Focused Development
Grubb Properties is a leader
in advancing discussions
around parking- and car-
focused development, utilizing
creative solutions to minimize
parking and car dependence.
Purchasing well-located office
buildings with large surface
parking lots often enables us to
build multifamily communities
on those lots, creating true
mixed-use communities.
We then build parking decks
that serve office tenants by
day and residents by night
through a shared parking
model. This enables building
approximately 250 fewer
parking spaces per community
for a significant construction
cost savings, which in turn
keeps rents affordable and
limits the carbon footprint of
our developments. In addition,
state-of-the-art cycle centers
and other amenities, such
as smart-locker-equipped
package rooms, encourage
and enable residents to live a
car-free lifestyle.
To help further limit car
dependence, Grubb
Properties has partnered
with Copenhagenize, a multi-
disciplinary team based
in Copenhagen, Denmark.
Copenhagenize has assisted
with the planning and design
of larger developments to
enhance both on- and off-site
infrastructure that promotes
the use of bicycles and walking
as alternative or primary
transportation modes.
Qualified Opportunity Zone
Investing
Qualified Opportunity Zones
(QOZs) were created by the
Tax Cuts and Jobs Act of 2017
to encourage investment
in low-income Census
tracts designated by state
governments. They are a great
match for Grubb Properties’
Essential Housing strategies,
spurring development in
these areas without outsized
gentrification impacts.
Grubb Properties launched its
first QOF in 2019 and has since
raised more than $518 million
in the program, now under its
Link Apartments Opportunity
Zone REIT. But the company
was investing in these areas
long before there was any tax
incentive for our investors. In
fact, the first Link ApartmentsSM
project in our portfolio, Link
Apartments Manchester, which
was developed in 2012, is in a
location that has since been
designated a QOZ.
By the time QOZ legislation was
implemented, Grubb Properties
already had four Link
ApartmentsSM
sites in service
or development in QOZs. As of
2022, we have completed 20
new investments under the
program and are excited to
continue to grow our portfolio.

Grubb Properties’ emphasis
on essential housing has
environmental consciousness
and efficiency embedded in
its DNA. To meet the needs
of those in the middle of the
income spectrum, we are
constantly looking for ways to
make our communities more
cost-effective and efficient.
Because we hold and operate
most of our properties with
a projected timeframe of
at least 10 years, we do not
take shortcuts that may look
impressive in the short term
but do not hold up over the
long term.
Link ApartmentsSM
Through creative, inspired, and
progressive building and unit
design, Link ApartmentsSM
are
built from the ground up for
efficiency. Limiting our core
floor plans to six provides
beneficial efficiencies on the
construction side, project
management side, and to the
resident experience.
For residents, we ensure that
every apartment maximizes its
space, providing apartments
that “live larger” than the
nominal square footage might
imply. Our experience enables
us to ensure the floor plans
provide efficient luxury with
consumer-driven amenities
and smart technology. This
attention to detail, along with
adaptive and efficient heating/
cooling systems, ENERGY Star
appliances, smart leak sensors
to minimize water waste, and
LED lighting, also ensures that
utility costs are minimized.
In fact, Link ApartmentsSM
residents’ energy bills are on
average 15% lower than they
would be at comparable
properties. In the owner-
paid portions of the building,
we average 24% less energy
usage and spending than
comparable properties in the
local sub-market. Building-
wide, water usage is 29%
lower than at comparable
properties.
PROPERTY OPERATIONS
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IMPORTANCE OF LIVING IN VIBRANT NEIGHBORHOOD
Total
Completely agree 20%
Strongly agree 19%
Somewhat agree 26%
Somewhat disagree 17%
Strongly disagree 9%
Completely disagree 10%
QuickFacts
COMPLETELY/STRONGLY AGREE (NET) 38%
AGREE (NET) 64%
DISAGREE (NET) 36%
The State of the Young American Renter Survey: Green, Urban Living Holds
Appeal
Grubb Properties’ 2022 State of the Young
American Renter Survey polled 1,000 American
renters aged 22 to 35 to gauge their attitudes,
preferences, and actions given the current
rental market. The survey results revealed
some key priorities for renters, including
seeking out vibrant locations and the
importance of green living spaces.
Young renters are not willing to compromise
on their environmental priorities. More than
four out of five (82%) agreed that energy-
efficient and environmentally friendly
buildings are at least somewhat influential
in their decision on where to rent, with 40%
stating that they are extremely or very
influential.
IMPORTANCE OF PROXIMITY TO PUBLIC TRANSPORT
ENVIRONMENTAL PRIORITIES
Similarly, 64% at least somewhat agree that
proximity to public transportation is important
in the rental decision process.
Three out of four (75%) at least somewhat
agree that living in an environment near
shops, restaurants, and entertainment is
important.
We share these priorities, ensuring that our
communities are both efficient and located
in vibrant neighborhoods easily accessible by
public transportation, cycling, or walking.
Total
Completely agree 20%
Strongly agree 24%
Somewhat agree 31%
Somewhat disagree 12%
Strongly disagree 7%
Completely disagree 6%
QuickFacts
COMPLETELY/STRONGLY AGREE (NET) 44%
AGREE (NET) 75%
DISAGREE (NET) 25%
Total
Extremely influential / the most
influential factor
15%
Very influential 25%
Somewhat influential 42%
Not very influential 13%
Not at all influential 6%
QuickFacts
EXTREMELY/VERY INFLUENTIAL (NET) 40%
AT LEAST SOMEWHAT INFLUENTIAL (NET) 82%

These savings are due
primarily to our efficient design
and construction, but we do
not stop there. Many studies
show that the operations and
maintenance protocols for a
property end up improving
the building’s environmental
impact more than the
equipment and materials put
in – something we have more
oversight over due to our
vertical integration.
These six floor plans also
serve as a means to minimize
construction waste and
maximize standardization of
unit finish and fit out. These
plans can be duplicated
across the Link ApartmentsSM
portfolio so general contractor
partners can be as efficient
as possible with identical units
from project to project.
We are sensitive to
environmental concerns
on building sites, including
biodiversity preservation,
soil impact minimization,
and pollution mitigation
at Brownfield sites. We use
regionally appropriate,
drought-resistant, and
pollinator-friendly landscaping.
We also implement design
changes targeted at
mitigating risks and damages
from location-specific weather
and natural disaster risks.
Transportation
Innovation
By developing sites
near greenways and
other established public
transportation options, Link
ApartmentsSM
give residents
the opportunity to minimize
their car usage. We provide
state-of-the-art cycle centers
in all of our communities
and encourage electric
vehicle use by providing
EV chargers. We currently
offer 31 EV charging stations
across the Link ApartmentsSM
brand, and intend to add
additional chargers in every
new community. We have
rolled out a program at
three communities in which
residents can rent a Tesla
Model 3 for an hour or even
a few days using an app. In
addition to the environmental
benefits, these amenities also
allow us to keep rents low by
limiting our expenditure on
parking infrastructure.
Measurement and
Oversight
As part of environmental
oversight at the property
level, internal and third-
party reviews of utility
data and maintenance
practices ensure that high-
performance building
efficiency is maintained
during the life of the asset.
Strategies include systematic
retrocommissioning,
preventative maintenance,
and regular year-over-
year internal and external
benchmarking. In addition,
our property managers
undergo regular ESG training
and self-assessments, and
utility consumption is a topic
included on every property
manager’s annual evaluation.
Message from
Clay Grubb, CEO
of Grubb Properties
About Grubb
Properties
Investment
Operations
ESG
Framework
and Chart
Property
Operations
Table of
Contents
Corporate
Operations
04 06 12 13 24 30

Public Art Support
We believe that art is an
indispensable part of communities
and should be broadly accessible.
Grubb Properties is committed
to supporting local artists and
providing homes for creative pieces
that contribute to the aesthetics,
connection, and cultural energy in
our communities.
Throughout Link ApartmentsSM
Montford II in Charlotte, NC, local
artist Sharon Dowell has created
spray-painted murals influenced by
the history of Charlotte and Montford
Park. Dowell believes that “creative place making communicates distinctiveness and
generates connections across communities. Thus, it is important for her murals and public
art to also serve as a vehicle to give back and shape communities for the better.”
In honor of Winston-Salem, N.C.’s, “City of Arts and Innovation” celebration, Link
ApartmentsSM
4th Street has partnered with the city to create “Resilience – Still I Rise,” a
steel sculpture incorporating beams, vines and leaves. The sculpture was designed by
local artist Mona King, who is also a designer and architect. King says her work is biophilic,
meaning designs inspired by nature. Grubb Properties’ local supplier Davidson Steel
Services, LLC donated four 12’ steel beams for this project. The sculpture was installed in
spring of 2022.

CHARLOTTE 4601 Park Road, Charlotte, NC 28209
CARY 117 Edinburgh S Drive, Cary, NC 27511
WINSTON-SALEM 500 W 5th Street, Winston-Salem, NC 27101
ATLANTA 47 Perimeter Center East, Atlanta, GA 30346
www.grubbproperties.com
www.linkapartments.com
www.linkedin.com/grubbproperties
www.twitter.com/grubbproperties
www.facebook.com/grubbproperties
www.youtube.com/grubbproperties

2022 ESG Report - Grubb Properties.pdf

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