More property companies are following the early movers and raising debt capital in 2021 linked to improving their assets' sustainability.
The European real estate industry’s ESG effort is supported by investors who are searching for assets with green credentials in the capital markets. This week they queued to buy Vonovia’s €600 mln green bond which was five times oversubscribed.
Varde-owned Spanish residential developer Via Celere announced today it has priced a €300 mln high-yield green issue. The weekly data sheet has logged CTP, CBRE Global Investors, Atrium, Whitbread, Citycon, Heba and Workspace all issuing green bonds in the last eight weeks.
In the structured finance markets, Bank of America upsized and gave guide pricing for a third CMBS this week, secured on the loan on Frankfurt’s The Squaire, while a launch this week from Morgan Stanley will take the number of new deals this year to four.
A huge data centre portfolio traded, while new healthcare and light industrial/logistics funds raised capital.
We also track the latest assets on the market and those withdrawn.
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