Fairway advised Acofi Gestion on a €30 million financing backed by a portfolio of six urban logistics assets acquired by Valor Real Estate Partners. The first four sites financed are located on the first periphery of Paris and Lyon. The other two acquisitions will be completed in a second phase. This is the third financing granted by the funds managed by Acofi Gestion to Valor.
“For the first time in France, a financing strategy with an impact on real estate assets is being implemented by a management company. This operation confirms Acofi Gestion’s ambitions to take ESG criteria into account in its approach as an investor”, the press release states.
The loan granted by Acofi Gestion includes environmental impact criteria based on a list of actions grouped under four main themes in line with the United Nations’ Sustainable Development Objectives (SDOs) and relevant to the real estate sector, namely energy, water, waste and greenhouse gases.
The actions identified as part of the operation have been specifically defined for the logistics asset class and range from optimizing lighting to the greening of the sites through the signing of a green energy supply contract. In addition, the financing contract includes a portfolio audit to ensure compliance with this innovative approach and the preparation of an annual ESG report for the investors of the fund concerned.
“We are delighted to finance a new portfolio with Acofi Gestion, which illustrates the quality of our investments and the appetite of lenders for the logistics asset class.This financing in favour of sustainable development also demonstrates our common will to take into account all performance indicators and allows us to crystallize our policy of renovation and constant improvement of our assets under management”, says Victor Massias, Principal, Valor Real Estate Partners.
“For Acofi Gestion, taking ESG criteria into account is a strong and engaging direction. The implementation of this first impact financing with our partner Valor has enabled us to validate both the interest and feasibility of this operating method and allows us to confirm our strong ambitions for our next generation of funds, which are due to be raised in early 2021,” adds Benjamin Debré, Manager of the Real Estate Loan Fund, Acofi Gestion.