Dutch residential property specialist Vesteda has signed its first green private placement with two new debt investors.
The private offering – made up of two €50-mln placements – has a term of 10 and 15 years with interest rates of 1.03% and 1.38%.
Vesteda said that it intends to use the proceeds of the placement to (re)finance the energy-efficient homes in its residential portfolio. The financing has two purposes; firstly to finance homes with an A energy label and, secondly, to finance homes that Vesteda is planning to make more sustainable, by upgrading them by at least two label levels to a minimum of a C energy label. Vesteda will report on any energy savings and CO2 reductions realised in the homes, and this reporting will be verified by an independent party.
‘Sustainability is an essential part of our strategy for the long-term value development of our residential portfolio. Thanks to our strong focus on sustainability, we are also eligible for green forms of financing, such as this green private placement,’ said Frits Vervoort, Vesteda CFO.
Vesteda is a Dutch residential investor that focuses primarily on the mid-rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies and manages a portfolio of more than 27,000 residential units with a total value of €8 bn.
