DEI in CRE: Progress Under Pressure

May 20, 2025 | BOMA International, Ella Krygiel

Diversity, equity and inclusion are essential to fostering a sense of belonging in the workplace. One article summarizes the concept well: “Everyone’s human and we should treat each other with the same level of respect and kindness.” Easy enough, right? But the headlines of the past few months suggest otherwise.

Several major organizations—such as IBM, Pepsi and Warner Bros. Discovery—have scaled back their DEI policies, citing pressure to comply with executive orders from the current administration. Despite this trend, many companies remain firmly committed to advancing DEI. One report found that Johnson & Johnson, for example, continues to prioritize diverse talent pipelines and workforce representation at all levels. Delta Airlines has also reaffirmed its commitment, stating that DEI is “critical to business” and “retaining top talent.”

They’re not wrong. Research consistently shows that diverse workplaces are more successful. A McKinsey study found that companies with diverse teams are 35% more likely to outperform financially. A Boston Consulting Group report revealed that inclusive companies are 19% more productive. In commercial real estate, meaningful progress continues. The Commercial Real Estate Women (CREW) Network is a leader in this space, focused on accelerating success for women in the global CRE field. Through its Benchmark Study —completed in less than 15 minutes by industry professionals—the organization tracks DEI trends and measures impact.

Cindy MacMillan, 2025 CREW Network President and Vice President | Asset Management at Grosvenor, shared how the organization is pushing its diversity, equity, and inclusion agenda forward: “CREW Network was founded in 1989 to bring together women in commercial real estate to exchange information, develop business contacts and help each other succeed professionally in a predominately male industry. While our priority is to accelerate success for all women in the global commercial real estate industry, we are committed to strengthening and expanding diversity, equity, and inclusion throughout our global organization.” MacMillan highlighted several key initiatives that can serve as a blueprint for companies looking to strengthen their own diversity, equity, and inclusion strategies:

1. Career outreach programs – Their CREW Careers and UCREW programs educate students about the many career opportunities in CRE to create a stronger, more diverse talent pipeline.
2. CRE Pledge for Action – CREW Network launched this industry CEO pledge in 2021 to support the advancement of women and other underrepresented groups in the industry through six goals.
3. Program, training and resources for chapter leaders – CREW Network educates and empowers their chapter leaders across the globe to strengthen diversity, equity, and inclusion throughout their organization of nearly 15,000 members.
4. Research – CREW Network is the leading producer of research on gender and diversity, equity, and inclusion in commercial real estate. They deliver research papers and benchmark studies to advance women and positively impact the industry.
5. Partnership with the LGBTQ+ Real Estate Alliance – to educate the industry about barriers to homeownership that impact the LGBTQ community and promote allyship.

CREW Network is not alone in tracking progress. The Urban Land Institute’s 2024 Global Real Estate DEI Survey captured responses representing nearly 300,000 full-time employees and $1.98 trillion in assets under management across various real estate sectors. Notable global findings include:

• 56.4% of firms now have a formal DEI program, up from 53.6% the previous year.
• 51% have defined hiring targets for underrepresented groups.
• 64.7% identified improved employee engagement and productivity as a key benefit of DEI initiatives.

While these numbers reflect some progress, the survey also voiced concern over “global fears that DEI commitments may be stalling.” In the U.S., for example, only 5.7% of board directors are Black or African American—the highest of any underrepresented racial or ethnic group, yet still disproportionately low. With this in mind, we asked MacMillan what advice she has for emerging professionals from underrepresented backgrounds who are building long-term careers in CRE. Her tips:

1. Invest in yourself: Ask your employer to support your professional development through memberships in industry groups like CREW Network and BOMA International. Expand your skill set and grow your network.
2. Find a mentor or sponsor: These relationships can be pivotal to your advancement. A good mentor offers honest feedback, skill development and valuable introductions.
3. Value in-person networking: Seize every opportunity to engage with colleagues, clients and professionals. Relationships matter—especially for career growth.
4. Communicate openly: Bring your authentic self to work. Advocate for your needs and support open dialogue in the workplace.
5. Choose employers wisely: Seek out organizations that are transparent about company culture, compensation, and diversity, equity, and inclusion efforts. Align with companies that support your career and overall wellbeing.

MacMillan’s insights offer a clear path forward—for both individuals and organizations—on how to make diversity, equity, and inclusion efforts more meaningful and sustainable. As we celebrate Asian American and Pacific Islander (AAPI) Heritage Month, Kelley A. Truong, Real Estate and Finance Attorney at Zimmerman Kiser Sutcliffe, P.A., also shared a powerful message in an exclusive interview with CREW Orlando, a chapter of CREW Network: “The AAPI community’s impact extends far beyond geographical boundaries and is about recognizing their influence in various spheres: education, arts, technology, healthcare, and more. In the future I hope to see the AAPI community expand and increase visibility beyond a few streets.” Truong’s words are a reminder that visibility, inclusion and equity are not just workplace goals—they are long-term commitments to building better, more just communities.

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