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CommercialThu, 28 Oct, 21

First Ever Real Estate Sector Green Loan in Africa Issued

First Ever Real Estate Sector Green Loan in Africa Issued

Equites Property Fund and RMB announced earlier this month they successfully concluded the first green loan in the sub-Saharan African real estate sector with the latter acting as the sole arranger and sustainability agent for the green loan according a statement issued by RMB. The R225million loan facility is expected to enable Equites Property Fund to unlock ongoing environmental benefits.

Equites Property Fund is the only specialist logistics Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange (JSE) with Sustainability being central to its real estate strategy. The green loan is therefore part of its aspiration to fund the development of two high specification IFC EDGE (Excellence in Design for Greater Efficiencies) certified green buildings in an attractive industrial node, Equites Park Meadowview, for key tenants, Altron and Digistics.

It is worth noting EDGE is a globally recognised certification which brings speed, market intelligence and an investment focus to green building certification in over 170 countries globally. The EDGE engine has a set of city-based climate and cost data, consumption patterns and algorithms for predicting the most accurate performance results of buildings.

The release noted Equites Property Fund over the years has met and, in some areas, exceeded the requirements for EDGE certification adding that “the design choices made for the Altron building predict energy savings of 39%, water savings of 21% and 55% less embodied energy.

“The Digistics buildings has achieved Preliminary EDGE certification. The design choices made for this project predict energy savings of 31%, water savings of 48% and embodied energy savings of 56%. The certified green buildings will also prove beneficial for tenants by providing long-term utilities savings.

“By working together, Equites and RMB were able to unlock an innovative and sustainable solution through funding EDGE certified green buildings which assists Equites to execute its sustainability strategy.”

Green loans are any type of loan instrument made available exclusively to finance or re-finance, in whole or in part, new and/or existing eligible Green Projects. The green loan market aims to facilitate and support environmentally sustainable economic activity.

 

Source:Mohammed Bomanso Issah(Real Estate Times Africa)

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