Fondo Iron has secured €104 mln in green financing for a logistics portfolio in Italy from UniCredit and ICBC.
The financing, consisting of term and revolving credit facilities, is related to the acquisition and development of a six-asset logistics portfolio with around 128,000 m2 of gross leasable area.
UniCredit is the mandated lead arranger, book runner, original lender, global coordinator, green structuring adviser and coordinator and hedging coordinator, while the Milan branch of ICBC is the mandated lead arranger and original lender.
Loan Agency Services acted as agent and security agent.
The logistics assets are strategically located in the metropolitan area of Rome and Grosseto.
Some have already been built, while the remainder will be the subject of future development.
The logistics assets will need to comply with high sustainability standards as well as obtain either the LEED Gold or the BREEAM New Construction Very Good certification.
The transaction is aligned to the Green Loan Principles 2021 according to the Loan Market Association.
Fondo ‘Iron’ is a fund managed by Prelios SGR and fully subscribed by BentallGreenOak.
Allen & Overy advised UniCredit and ICBC on the the drafting, negotiation and signing of the loan.
