Pro-invest Group is pleased to announce that Aareal Bank’s first green loan has been awarded to one of its fund assets. Aareal Bank’s green loan is governed by its “Green Finance Framework”, with the Bank acting as Arranger and Sole Lender providing a mortgage loan of c. A$39 million to the Holiday Inn Express Sydney Macquarie Park hotel. The financing agreement according to the Framework established at Aareal Bank in H1 2021 is subject to a host of quantitative and qualitative environmental criteria. The Framework has been reviewed through Sustainalytics verifying that the Framework is credible and impactful, aligning with the 4 core components of the Green Bond Principles 2018 and Green Loan Principles 2020. The agreement also contains associated covenants to which the borrower has committed, and which are to be reviewed regularly.
Holiday Inn Express Sydney Macquarie Park serves as Pro invest Group’s first operational hotel which commenced trading in April 2016 with the hotel featuring several design, development and operational initiatives focused on sustainability. Environmentally friendly initiatives range from sustainably produced or energy efficient equipment, smart light and air conditioning management, improved housekeeping and laundry routines, and leads up to the systematic recording and auditing of consumption data. The hotel has achieved a post construction >4.5-Star rating for both Energy and Water under the National Australian Built Environmental Rating System (NABERS) for 4 consecutive years.
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