Real Estate
Home›Real Estate›Industry›Redevco backs sustainable logistics project with nearl…
Redevco backs sustainable logistics project with nearly €50M green loan
The two-year loan to Financière ID will fund a 52,815-square-meter Grade A scheme in Tiel that is targeted for BREEAM Excellent certification.
Redevco is financing an ID Logistics development in Tiel, Netherlands, with a green loan just shy of €50 million, according to Bisnow.
The real estate debt transaction provides €49.2 million to Financière ID, the ID Logistics Group development arm, and is the fourth deal closed by Redevco’s real estate debt platform, the outlet said.
The project will create a new 52,815-square-meter Grade A logistics site in the Medel industrial area, including warehouse space plus an office and mezzanine. It is more than 70% pre-let to ID Logistics and the facility is set for two years, with a one-year extension option.
Bisnow reports the development is targeting BREEAM Excellent certification and is expected to reach up to 75% self-sufficiency through on-site renewable energy generation, including 2.5 megawatts of peak solar capacity via photovoltaic panels. The scheme will connect to the Medel Energy Island, a shared local energy hub.