Axiare receives EUR 16 million for its active management in protecting the environment
- Axiare Patrimonio has signed a EUR16 million financing agreement with the European Investment Bank (EIB), as part of the Juncker Plan
Madrid, 21 December 2017.
- Important milestone as the first Spanish real estate firm to receive financing from EIB
- The Socimi will invest the money in improving the energy efficiency and overall quality of its buildings in order to make them more sustainable
Axiare Patrimonio has achieved a new milestone, becoming the first Spanish real estate firm to receive financing from the European Investment Bank. The Socimi, led by Luis López de Herrera-Oria, has signed a EUR 16 million loan agreement with the EIB to increase the number of energy-efficient buildings in the Spanish market. This agreement is backed by the European Fund for Strategic Investments (EFSI), which forms the core of the Investment Plan for Europe, commonly referred to as the Juncker Plan.
The EIB has granted Axiare this loan to promote sustainability. Following refurbishment works, the HVAC systems and lighting in its buildings will comply with energy standards that will allow consumption to be optimised, promote the use of renewable energy and reduce the buildings’ CO2
This year, Axiare Patrimonio has secured financing deals totalling EUR 175.7 million. Since its listing in July 2014, the Socimi has obtained almost EUR 700 million in bank financing, clearly demonstrating the confidence that it instils in the market, thanks to its management model, its strict compliance with its business plan and its capacity to generate value for its shareholders.
The Company will receive EUR 16 million to invest in improving the energy efficiency and sustainability of several of the properties in its portfolio. Sustainability and protecting the environment via efficient buildings lie at the very heart of Axiare Patrimonio’s business plan. The company has also set itself the ambitious goal of certifying its entire portfolio by the end of 2018.
The European Investment Bank (EIB) is the European Union’s long-term financing institution, whose shareholders are its member states. The EIB provides feasible investment projects with long-term financing in order to help meet EU policy objectives. The Investment Plan for Europe, commonly referred to as the Juncker Plan, is a key priority for the European Commission. It is focused on driving investment to create jobs and drive growth via a more intelligent use of new and available financial resources, removing investment barriers and providing visibility and technical assistance to investment projects.
Luis López de Herrera-Oria, CEO of Axiare Patrimonio, confirmed: “Axiare Patrimonio has achieved a new milestone by signing this loan agreement. In doing so, we are the first Spanish real estate firm to receive financing from the EIB”. López de Herrera-Oria added: “The EIB has recognised that Axiare Patrimonio’s management model is always focused on generating added value in its properties and returns for its shareholders”.
Axiare Patrimonio’s portfolio has a market value of circa EUR 1,710 million. In line with the business plan announced at its listing, offices account for 74% of its portfolio, logistics warehouses 18%, with the remaining 8% being other properties, primarily retail warehouses.
Axiare Patrimonio was advised on the legal side by Gómez-Acebo y Pombo.