CBRE Global Investors has struck a sustainability-linked funding line with ABN Amro for one of its logistics-focused funds.
The revolving credit facility is set at an initial €45m (£40m) but can be expanded by €15m, and is secured against properties in the CBRE European Industrial Fund.
The interest rate on the loan will rise or fall depending on whether the fund meets certain targets linked to its ESG strategy and the United Nations’ Sustainable Development Goals.
These targets include the installation of on-site renewable energy technology, installation of energy efficient lighting, operational green building certification, and certain energy efficiency ratings.
Axel Sibmacher van Nooten, managing director at ABN Amro, said: “The support we can provide to our clients to enhance their sustainability effort is of strategic importance.”
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