Real estate investment manager Clarion Partners Europe has as agreed a €240 million NAV Line facility with NatWest for one of its co-mingled funds, which reports under Article 8 of the SFDR. It represents the first transaction between the two parties.
The NAV facility also represents the first loan entered into by NatWest and Clarion Partners Europe which incorporates green loan provisions in alignment with the LMA Green Loan Principles.
The proceeds will be used, amongst other things, to fund Clarion Partners Europe’s green initiatives, including refinancing existing assets; green capex initiatives; and the acquisition of assets that meet, or are targeting, certain building energy certifications.
Florina Capraru, Acquisitions Director, Clarion Partners Europe, said: “Having green loan provisions in the NAV facility is a natural next step on our sustainability and value creation pathway and supports our aim of keeping our portfolio of mission critical assets future proofed.
“We have been especially impressed with NatWest, an exciting new lender relationship for us, who’s depth of understanding around the decarbonisation issues facing the real estate industry aligns with our own ethos of sustainability being a risk mitigant and value driver.”
