Ardian, a world-leading private investment house, and Prelios SGR, among leading Italian real estate and securities SGRs, secured a EUR 50 million green loan with Crédit Agricole Corporate & Investment Bank (Crédit Agricole CIB) Milan Branch, which acted as Mandated Lead Arranger, Underwriter, Bookrunner and Green Structuring Advisor and Coordinator. The green loan will be used by AREEF 2, the multi-fund Sicaf wholly owned by Ardian and managed by Prelios SGR, to refinance the two buildings in Piazza Fidia 1 and Via Roncaglia 12 in Milan.
The two buildings have undergone a major redevelopment plan according to the highest international standards, primarily well-being and energy efficiency. The exceptional ESG and architectural features of both buildings enabled AREEF 2 SICAF to optimize the management of the assets by leasing them to leading national and international tenants and to obtain financing on favourable terms. This confirms the effectiveness of Ardian’s Build-to-Green+ strategy, which continues to guarantee excellent performance while helping to stabilize the portfolio.
‘Primo Building’, the property in Piazza Fidia 1, covers approximately 8,725sqm of GLA distributed over 11 floors, mainly for office use, and was completely renovated based on a design by architect Stefano Belingardi. The building is one of the few existing buildings classified as NZEB (Nearly Zero Energy Building), it is 34% more efficient than a standard Grade A building with four ESG certifications (LEED Platinum, BREAAM Very Good, WELL Silver, WIREDSCORE Certified) and it already fits the Paris Agreement in terms of CO2 emission targets. Today the building is the Milan headquarters of Satispay.
The building in Via Roncaglia 12, which recently won Urbanfile’s ‘Architecture and Urban Planning Award 2023', has a surface area of 7,664 square metres on 10 floors, mainly for office use, and was entirely renovated thanks to a project by the Garretti Associati architecture studio. It boasts LEED Platinum and BREAAM Very Good certifications and is already compliant with the Paris Agreement for CO2 emissions. The building is almost entirely rented out to national and international tenants of high standing.
PARTIES TO THE TRANSACTION
-
Participants
- Crédit Agricole CIB Legal Advisor: Gianni & Origoni (GOP)
- Ardian Legal Advisor: Chiomenti
- Legal Due Diligence: PedersoliGattai
- Technical Due Diligence: Yard REAAS
- ESG Due Diligence: Arup
- Notary: Cortucci Nardi Notai Associati
ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
ABOUT PRELIOS SGR
Prelios SGR is a company in the Prelios Group and one of Italy's largest asset managers, with assets under management of approx.€ 8 billion.
It is active in the promotion, creation and management of real estate alternative investment funds (AIFs) and credit funds, advisory and separate account management, for leading Italian and international institutional investors. Prelios SGR is a pioneer in the innovation of investment products, as regards both asset classes and typologies. It set up one of the first externally managed SICAFs and manages the largest UTP fund in Italy and one of the largest in Europe. Prelios SGR has established high standards and control systems for governance, risk management and transparency, while maintaining high operating flexibility. Reflecting its commitment to promoting sustainability, the company is a member of the UN PRI - Principles for Responsible Investment network and of GRESB.
ABOUT CREDIT AGRICOLE CIB
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2023). More than 8,900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
For many years Crédit Agricole CIB has been committed to sustainable development. The Bank was the first French bank to sign the Equator Principles in 2003. It has also been a pioneer in Green Bond markets with the arrangement of public transactions from 2012 for a wide array of issuers (supranational banks, corporates, local authorities, banks) and was one of the co-drafter of Green Bond Principles and of the Social Bond Guidance. Relying on the expertise of a dedicated sustainable banking team and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in the Green bonds market.