UK and Dutch banks, insurance companies and debt funds were doing their bit to help decarbonise real estate.
Two early adopters of the ESG lending agenda, Lloyds and Aviva Investors, each reached milestones in their strategies. Lloyds made its biggest green loan yet on affordable residential, to a UK housing association, which will facilitate decarbonisation of 47,000 homes.
Aviva’s £227 mln sustainability-linked refinancing of the mixed portfolio of London-based property company Romulus means the insurer’s real estate debt team has reached its commitment to originate £1 bn in sustainable transition real estate debt three years ahead of schedule, and only 18 months after launch.
Octopus Real Estate, Barclays, Allianz and ABN Amro also backed sponsors with ‘future-proof’ visions for their assets.
There were a range of interesting deals, from a leading repurposer of old buildings in the Nordics to one involving Greek shopping centres.
The biggest transaction, however, was a change of ownership of a prime asset. Oxford Properties and Madison International banked €677 mln from the sale of stakes totalling 50% in Berlin’s Sony Centre, to Norges BIM.
There is just one new fund raising this week - for healthcare - after several busy weeks.
We also track the latest assets to go up for sale.
Click here to access the data.
