Hines signs €50m green loan with CaixaBank to…
MADRID, FEBRUARY 21, 2022 – Hines, the global real estate company, on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest pension group under public law, has signed a €50 million green loan with CaixaBank, Spain’s leading financial group, as part of a new financial package for its flagship Preciados 13 project in Madrid.
In 2017, the mixed-use building was acquired by Hines on behalf of BVK Highstreet Retail Preciados SLU The newly refurbished complex is located on calle Preciados 13, Madrid’s main pedestrian street, recognized as one of the main shopping destinations. shopping in Europe, and is on the corner of calle Maestro de Victoria. 12 million euros have been invested in the renovation of the building, which includes a 2,700 square meter commercial space, leased to the international fashion brand Bershka, which is part of the Inditex group and one of the largest fashion retailers in the world, and 2,000 square meters for a Chic & Basic Boutique hotel to open in the fall of 2021, comprising 51 rooms and an adjoining gastronomic offer on the first floor of the Naked & Sated diet restaurant.
As part of this agreement, Hines has taken a further step in its ESG strategy by arranging a 6-year €50 million green loan with CaixaBank for Preciados 13 to continue to promote energy efficiency and reduce emissions. carbon in accordance with the Green Lending Principles issued by the Lending Market Association. Preciados 13 recently obtained its BREEAM certificate in recognition of its commitment to sustainability, while the commercial and hotel space obtained the highest Class A certification for energy consumption.
Vanessa Gelado, Senior Managing Director and Country Head of Hines in Spain, said: “We are very pleased with the refinancing of this historic property in Madrid, in which we have invested all our efforts to create a unique space that will allow us to have a reference asset in one of the capital’s flagship districts, which has undergone a very significant transformation in recent years. Thanks to the quality of the renovation, we managed to conclude a green agreement with CaixaBank in line with our ongoing ESG strategy. »
Hines is a privately held global real estate investment firm founded in 1957, with a presence in 255 cities in 27 countries. Hines has approximately $83.6 billionin assets under management. Additionally, Hines provides investment management services to over 367 properties covering 12.84 million sq.m. Historically, Hines has built, renovated or acquired 1,486 properties, totaling over 45 million square feet. The company has more than 171 developments in progress worldwide. With a wealth of investment experience across the risk spectrum and across all property types, as well as a pioneering commitment to sustainability, Hines is one of the world’s most trusted real estate companies. important and most respected in the world.
Since entering Europe in 1991, Hines has expanded its European platform to include offices in 16 cities, as well as a presence in 62 cities in 13 countries. Hines oversees an AUM portfolio valued at approximately €21.7 billion of assets under management in Europe, representing over 3.8 million m² of assets for which Hines provides services at third-party properties, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and United Kingdom.
Visit www.hines.com for more information.
 It includes both Hines’ global organization and RIA AUM as of June 30, 2021.
About Bayerische Versorgungskammer (BVK)
Bayerische Versorgungskammer is the competence and service center for occupational and municipal pension plans and the largest public-law pension group in Germany. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions and municipal pension funds. Bayerische Versorgungskammer covers some 2.4 million policyholders in total, with contributions of 5.2 billion euros and some 3.8 billion euros in annual pensions. It currently has 97.2 billion euros in assets under management (market value) and more than 1,420 employees.
To visit www.versorgungskammer.de for more information.
CaixaBank, committed to sustainable financing
CaixaBank, Spain’s leading financial group, is one of the financial institutions most committed to sustainability, as its socially responsible banking plan includes five key action principles that directly contribute to the United Nations Sustainable Development Goals. Through its activities, the bank supports environmentally friendly initiatives and projects that contribute to preventing and mitigating climate change, promoting the transition to a low-carbon economy and social development.
CaixaBank raised €31.375 billion in sustainable finance in 2021, up 150% on the previous year, and ended the year in sixth position in the Refinitiv ranking of sustainable finance in Europe, making it the best-positioned Spanish bank in this ranking.