2025 Report
Responsibly Ohana
Introduction from Ohana’s Founder and CEO, G. Christopher Smith
Dear Stakeholders,
I’m pleased to share our annual Responsibly Ohana Report, where we document our journey towards sustainability and community stewardship. Our dedication to embedding sustainable practices and community outreach into our business operations has been a significant focal point for us over the past few years, and this report highlights our achievements from 2024.
In a landmark development, the past year saw us making remarkable strides in these efforts, with investments in projects aimed at energy conservation across our flagship properties. This commitment has culminated in earning the distinguished Gold LEED Certification for Existing Communities at Twin Dolphin, our master-planned community in Los Cabos. Twin Dolphin is the first master-planned community in Mexico to achieve this revered and challenging
recognition, underscoring our unwavering commitment to responsible environmental practices.
Furthermore, giving back to the communities around us remains paramount. Reflecting our dedication to social responsibility, we’ve contributed over $3M in 2024, supporting local communities and causes where our properties and firmwide employees are located.
We appreciate your ongoing support of our endeavors and look forward to the continued growth and achievements of our Responsibly Ohana program.
Onward,
G. Christopher Smith Chief Executive Officer
Ohana invests in properties where human connection thrives.
Our team is comprised of experts in real estate operations, capital markets, development & construction, and residential brokerage. We put relationships at the center of everything we do, with a data-driven approach that allows us to identify risks and opportunities.
BY THE NUMBERS
$4.9B
In total investments
3,621
Hotel keys / residential units currently owned and / or operated
57 Corporate employees
40+ Properties acquired, financed, operated, or developed
$2.9B+
Transacted by Ohana Realty across 5 residential projects
3,700+
Employees across property portfolio
All figures as of March 31, 2025
PARK CITY, UTAH
02 Responsibly Ohana
Each Ohana property is located in an exceptional community.
Our Responsibly Ohana policy outlines our commitment to enhancing these communities, including how we incorporate sustainable investment practices across our firm and the entire investment lifecycle, from acquisition due diligence to realization.
CORE PILLARS
Our Responsibly Ohana efforts are focused on four key impact areas.
Energy
Reduce overall carbon footprint by lowering energy consumption
Upgrade and optimize equipment / processes for efficient resource usage
Explore on-site renewable energy generation
Reduce water consumption across portfolio
Use reclaimed water for irrigation and landscaping
Pursue operational changes and efficiencies
Volunteer
Encourage and support volunteering and giving opportunities for Ohana employees
Charitable monetary contribution applied for all corporate-level employee volunteer hours
Host annual volunteer day at all Ohana offices — “Ohana Day”
Giving
Maintain annual charitable giving budgets for each property and at Ohana level
Focus charitable efforts on community-based causes such as youth development / education
Corporate-level employee charitable contributions are matched up to 4x
HEALDSBURG, CALIFORNIA
$5,316,035 $5,033,629
In 2024, we continued our focus of reducing energy and water consumption at key properties in our portfolio, completing several operational system upgrades to enhance energy efficiency.
BUDGET ACTUAL
CASE STUDY
LEED Certification
2024 marked a major milestone for Twin Dolphin as our master-planned community in Los Cabos earned LEED Gold certification, becoming the first community in Mexico to achieve this distinction.* This globally recognized certification reflects years of planning, feasibility studies, and sustainable development aligned with Green Building Council standards.
Additional facilities within the community have been registered for LEED Existing Buildings certification and are currently within the audit and review process.
285M gallons
Desalination plant production in 2024
1.9M kWh
Amount of energy produced by the onsite solar panel grid for the community in 2024
Total open green space at Twin Dolphin (excluding the golf course) 125 acres
First project in Mexico to be certified under LEED v4.1 for Communities – Existing
LOS CABOS, MEXICO
2025 Initiatives
In collaboration with our property teams and third-party consultants, Ohana has identified key environmental cap-ex projects to execute at select properties within our portfolio over the course of the year.
Waldorf Astoria Monarch Beach Resort Rooftop Systems Upgrade
$650,000
Waldorf Astoria Monarch Beach roof systems upgrade will include the HVAC units, Air Handling Units (AHUs), and Modular Air Handlers (MAHs), ensuring improved energy efficiency, system reliability, and indoor air quality for the building.
Claremont Resort & Club Rooftop Equipment Upgrade
$600,000
The Claremont Resort & Club rooftop equipment upgrade includes new air conditioners, heat pumps, ventilation units, water heaters, pumps, and piping— improving system efficiency, reliability, and overall guest comfort.
La Cantera Resort
Chiller Control Upgrades
$165,000
La Cantera Resort chiller control upgrades will improve HVAC performance, energy efficiency, and reliability, helping maintain comfort and reduce maintenance.
Hotel Commonwealth
Boiler Replacement
$75,000
The addition of a new boiler at Hotel Commonwealth enhances heating efficiency, improves system reliability, and supports overall building safety.
Hyatt Regency Lost Pines
Air Handling & Building Management System Upgrades
$110,000
Air handling and building management system upgrades at Hyatt Regency Lost Pines improve airflow, energy efficiency, and centralized control of HVAC operations.
The Tillary Hotel Air Conditioning Repairs
$10,000
The Tillary Hotel air conditioning repairs restore function, boost cooling efficiency, and enhance guest comfort during peak periods.
$3,706,000 $3,010,661
Supporting the communities in which we operate continued to be a primary focus for us in 2024, with a variety of employee volunteering events and charitable contributions to support local organizations.
BUDGET
Key to the Cure Award
AUSTIN, TEXAS
Our team was proud to be recognized as the 2024 Corporate Champion by the Central Texas Chapter of Key to the Cure, a nonprofit accelerating the search for a cure for cystic fibrosis. This award honors a company that has championed the cystic fibrosis cause within their organization.
$375,000
Funds raised at the event to fuel research, treatment access, and support for individuals and families affected by this rare disease.
A Day of Volunteering
Each year, all Ohana offices allocate a day to volunteer for local charitable organizations. This annual tradition exemplifies our organization at its core—fostering connection, compassion, and community through hands-on service.
Property-Level Giving
2024 Community Involvement & Support
$3,010,661
At the majority of its properties, Ohana donates approximately $1,000 per full-time employee to local charitable causes and non-profit organizations.
Firm-Level Giving
2024 Employee & Firm Donations
$505,908
Causes Supported 70+
Volunteer Hours Logged 400+ hours
AUSTIN, TEXAS
LOS CABOS, MEXICO
Commitment to Accountability
The Responsibly Ohana Committee helps ensure we live up to the high standards we have set for our company and our properties. The team, which meets quarterly, is responsible for the following:
Determining Responsibly Ohana priorities and focus areas at the beginning of each year
Working with the Asset Management team in setting annual propertylevel performance targets, tracking progress, and proactively addressing Policy risks and opportunities
Providing transparency to our stakeholders, including distribution of monthly performance tracking and annual reporting
LOS CABOS, MEXICO
Property-Level Engagement
In 2024, the Ohana team worked closely with our on-property teams to review key initiative performance metrics on a monthly basis as a part of our governance efforts. As part of the year-end budgeting process, the Ohana team also established Responsibly Ohana spending targets for 2025.
GOVERNANCE CorporateLevel Engagement
Ohana has established robust internal governance through the formation of specialized committees to help manage the organization as a whole. Made up of six distinct committees, this corporate governance
structure leverages our internal expertise to effectuate changes and growth for the organization, bringing together participants from different business verticals to ensure a diversity of perspectives.
DANA POINT, CALIFORNIA
SAN ANTONIO, TEXAS
Appendix
The Responsibly Ohana Policy
Responsible Investment Culture
• Maintain and strengthen Ohana’s responsible investment culture
• Ensure the Responsibly Ohana policy is available to all employees
• Encourage involvement in internal and external research to inform Responsibly Ohana practices
• Provide periodic trainings and speaker series around social giving and involvement
• Disclose Responsibly Ohana performance versus pre-established targets, internally and with investors and key stakeholders
Investment
Due Diligence
Hands-On Ownership
• Assess material Responsibly Ohana issues, risks, and opportunities related to acquisition targets
• Document Responsibly Ohana related due diligence findings
• Reduce carbon footprint by lowering energy consumption through energy efficiency projects
• Reduce water consumption through operational changes and the use of technology
• Hire employees from a broadly sourced candidate pool for property-level positions where Ohana retains approval rights
• Maintain annual charitable giving budgets directed toward youth development and education
• Review sustainable business practice progress and outstanding items with on-site property teams
CEDAR CREEK, TEXAS
Responsibly Ohana in Action
Adherence to our Responsibly Ohana policy will help ensure we make progress towards our goals.
Responsible Investment Culture Investment Due Diligence Hands-On Ownership
The Responsibly Ohana policy is readily available to all Ohana employees
Employee involvement in research projects to inform Responsibly Ohana priorities is encouraged
Trainings and programs on Responsibly Ohana topics and developments
Transparency on Responsibly Ohana performance versus pre-established targets
Driven by property level factors, Ohana will seek to assess material sustainability related matters during due diligence
Ohana proactively seeks to identify Policy risk areas and improvement opportunities that aim to enhance value
Prioritized actions are documented and then recommended to the Investment Committee
Establish property-level Responsibly Ohana goals across Ohana’s key impact areas
Review Responsibly Ohana progress and outstanding items on a monthly basis with on-site property teams
Focused on control-oriented equity investments where Ohana directly influences action
Elements of the policy may be applied to credit investments when feasible
BOSTON, MASSACHUSETTS
Partnerships
Revitaliza Partnership
While our Responsibly Ohana goals and initiatives for 2025 and beyond are ambitious, it is important to reflect on our positive impact thus far.
Ohana has partnered with Revitaliza, a consulting firm in Mexico City specializing in LEED certification, decarbonization strategies and path to Net Zero.
Since the inception of our partnership in 2020, Revitaliza has provided extensive feasibility analysis, project planning in accordance to GBCI timelines, and support for ongoing deliverables, achieving LEED Certification for Existing Communities at Twin Dolphin in 2024.
LEED (Leadership in Energy and Environmental Design) is the world’s most widely recognized green building rating system, providing a framework for healthy, highly efficient, and cost-saving green buildings.
Results: Twin Dolphin is the only project in Mexico to be certified under LEED v4.1 for Communities – Existing.
Carbon Lighthouse
Ohana has partnered with Carbon Lighthouse, an energy-efficiency organization, to identify and implement energy-savings solutions at multiple properties. In addition, Ohana is a member of Carbon Lighthouse’s Advisory Board.
Results: Ohana completed energy savings projects that saved $297,000 and 1,475 tons of carbon dioxide in 2024. The team continues to collaborate with Carbon Lighthouse to identify additional opportunities to continue to reduce operating costs and emissions.
Project Destined
Ohana partnered with Project Destined to launch the Hotels & Hospitality Bridge Program in Fall 2024 to connect students with real-world experience in hospitality real estate. Through sessions led by Ohana executives, students learned a variety of core hospitality real estate development topics to layer in current real estate expertise to their education.
• Six-week curriculum focused on hotel investing, development, and asset management
• Four speaker sessions and an on-site property tour led by Ohana executives
Results: 25+ students engaged in a six-week program last fall from 15+ different universities to earn real-world experience
LOS CABOS, MEXICO
Our Portfolio
From urban hotels to resort destinations, our portfolio spans across North America.
Claremont Club & Spa BERKELEY, CA
Hotel Commonwealth BOSTON, MA
Hilton Brooklyn BROOKLYN, NY
Hyatt Regency Lake Washington RENTON, WA
Hotel Centro + The Knoll Hotel S ONOMA + NAPA VALLEY, CA
Hyatt Regency Lost Pines CEDAR CREEK, TX
Maravilla + Twin Dolphin Club LOS CABOS, MX
La Cantera Resort SAN ANTONIO, TX
The Tillary Hotel + 60 Duffield BROOKLYN, NY
Montage Los Cabos
LOS CABOS, MX
Waldorf Astoria Monarch Beach Resort & Club DANA POINT, CA
San Vicente WEST HOLLYWOOD, CA + SANTA MONICA, CA + NEW YORK, NY
Montage Deer Valley PARK CITY, UT
Montage Residences Healdsburg HEALDSBURG, CA
Montage Residences Deer Valley PARK CITY, UT
Montage Residences Los Cabos
LOS CABOS, MX
The data and information in this report (“Report”), which has been prepared by Ohana Real Estate Investors (“Ohana”), are presented for informational purposes only. This Report shall not constitute an offer to sell or the solicitation of any offer to buy any interest, security, or investment product. The information in this Report is only as current as the date indicated and may be superseded by subsequent market events or for other reasons, and Ohana assumes no obligation to update the information herein. Nothing contained herein constitutes investment, legal, tax, or other advice nor is it to be relied on in making an investment or other decision. This Report should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy.
Certain of the information contained in this Report contains “forward-looking statements” or information. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. When used in this Report, the words “may,” “could,” “anticipate,” “target,” “plan,” “continue,” “goal,” “commit,” “achieve,” “project,” “intend,” “estimate,” “believe,” “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Furthermore, any projections or other estimates in this Report, including estimates of returns or performance, are “forward-looking statements” and are based upon certain assumptions that may change. Forward-looking statements are subject to a number of certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or anticipated results. The forward-looking statements speak only as of the date of this Report and undue reliance should not be placed on these statements. Investors should read this Responsibly Ohana Report in conjunction with investment fund quarterly reports, financial statements and other disclosures regarding the valuations and performance of the specific investments discussed herein. Ohana disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise. In addition, unless the context otherwise requires, the words “include,” “includes,” “including,” and other words of similar import are meant to be illustrative rather than restrictive. Statistics and metrics relating to sustainability risks or impacts are estimates and may be based on assumptions or developing standards.
Nothing contained herein is intended to predict the performance of any investment. There can be no assurance that actual outcomes will match the assumptions or that actual returns will match any expected returns. Goals are aspirational and not guarantees or promises that all goals will be met. Certain information contained herein relating to any goals, targets, intentions, outcomes or expectations is subject to change. The impact goals, targets, commitments, incentives, initiatives or outcomes contained herein are purely voluntary and are not binding on investment decisions and/or Ohana’s management or stewardship of investments. Ohana may in the future establish certain impact goals, targets, commitments, incentives, initiatives or outcomes.
Similarly, there can be no assurance that our Responsibly Ohana policies and procedures as described in this Report, including policies and procedures related to responsible investment or the application of policy-related criteria or reviews to the investment process, will continue to be applied in the manner described; such policies and procedures could change, even materially, or may not be applied to a particular investment. Ohana is permitted to determine in its discretion that it is not feasible or practical to implement or complete certain of its policy-related initiatives, policies, and procedures based on cost, timing, or other considerations. In addition, the act of selecting and evaluating material Responsibly Ohana factors is subjective by nature, and there is no guarantee that the criteria utilized or judgment exercised by Ohana will reflect the beliefs or values, internal policies or preferred practices of investors, other asset managers or with market trends. In this report, we are not using such terms “material” or as they are used under the securities or other laws of the U.S. or any other jurisdiction, or as they are used in the context of financial statements and financial reporting.
Statements about Responsibly Ohana initiatives or practices related to portfolio investments do not apply in every instance and depend on factors including, but not limited to, the relevance or implementation status of a Responsibly Ohana initiative to or within the portfolio investment; the nature and/or extent of investment in, ownership of or, control or influence exercised by Ohana with respect to the portfolio investment; and other factors as determined by investment teams, corporate groups, asset management teams, portfolio operations teams, companies, investments, and/or businesses on a case-by-case basis. A Responsibly Ohana factors, sustainability risks or impacts are only some of the many factors Ohana considers in making an investment, and there is no guarantee that Ohana will make investments in companies that create positive sustainability impact or that consideration of sustainability factors will enhance long-term value and financial returns for limited partners. To the extent Ohana engages with portfolio investments on Responsibly Ohana-related practices and potential enhancements thereto, there is no guarantee that such engagements will improve the financial performance or sustainability of the investment.
References to portfolio investments are intended to illustrate the application of Ohana’s investment process only and should not be viewed as a recommendation of any particular investment or security. The information provided about these portfolio investments is intended to be illustrative, and is not intended to be used as an indication of the current or future performance of Ohana’s portfolio investments. The investments described in the selected case studies were not made by any single fund or other product and do not represent all of the investments purchased or sold by any fund or other product. Descriptions of any Responsibly Ohana-related achievements or improved practices or outcomes of Ohana’s portfolio investments are not necessarily intended to indicate that Ohana has substantially contributed to any such achievements, practices or outcomes. For instance, our Responsibly Ohana engagement may have been one of many factors, including other factors such as engagement by portfolio investment management and other key third parties and advisors, that may have contributed to the success described in each of the selected case studies.
Certain information contained herein has been obtained from third parties, and in certain cases have not been updated through the date hereof. While these third party sources are believed to be reliable, Ohana makes no representation or warranty, express or implied, with respect to the accuracy, fairness, reasonableness or completeness of any of the information contained herein, and expressly disclaims any responsibility or liability therefor. Actual results may differ materially from any forward-looking statements.
The receipt of any awards or certifications by Ohana or its portfolio investments described herein is no assurance that Ohana’s investment objectives have been achieved or successful. Further, such awards or certifications are not, and should not be deemed to be, a recommendation or evaluation of Ohana’s investment management business.
