French listed property group Altarea announced on Wednesday that it has received a €350 mln green loan from a banking consortium to refinance its Cap3000 shopping centre in Saint-Laurent du Var, near Nice.
The seven-year loan was granted by lenders BECM, BNP Paribas, BPI France, Crédit Agricole CIB, La Banque Postale, Natixis and Société Générale. The facility refinances an existing loan taken out in 2015 to fund the restructuring and extension plan for the shopping center until 2021.
After acquiring the center at the end of the 2010, Altarea launched a major revamp programme which lasted from 2014 to 2021. The scheme is currently BREEAM Excellent certified.
'This Green Loan operation on Cap3000 attests to the environmental benefit of the restructuring of the center, in particular on the actions of mitigation of climate change. More broadly, it is part of Altarea's desire to be a positive impact player with a strong ESG strategy. Sustainability issues are at the heart of our concerns for more responsible real estate,' said Alain Taravella, president and founder of Altarea.