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Bruntwood secures funding with new £276m sustainable loan from Aviva Investors

Bruntwood has agreed a new £276m, 15-year sustainable linked loan facility with Aviva Investors to help accelerate its decarbonisation programme.

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Bruntwood secures sustainable funding
Bruntwood secures sustainable funding

The agreement sees Bruntwood consolidate and extend the maturity of its long-term funding facilities until 2036.

As it continues to accelerate its decarbonisation plans as part of its net zero goals for new buildings by 2030 and its entire portfolio by 2050, Bruntwood has also agreed a number of sustainability performance metrics as part of the deal that are primarily focused on reducing its carbon emissions and procuring green energy.

 

In addition to using the funding to invest in new sustainable infrastructure to support its low-carbon transition, Bruntwood will also benefit from the additional capacity to make substantial capital investment into the portfolio.

Commenting on the transaction, Chris Oglesby, ceo of Bruntwood, said:

“This is a milestone new agreement for Bruntwood that provides us with significant new capital to support our strategic investments over the next decade and beyond, while also recognising the leadership position we have taken in tackling climate change in the UK’s real estate sector.

As we begin to lean into a post-pandemic world and the new opportunities this creates for our businesses, we are pleased to have the backing of a quality funding partner in Aviva Investors, and look forward to continuing to deepen our relationship with them.”

Gregor Bamert, head of real estate debt at Aviva Investors, added:

“We are delighted to have extended the existing relationship with Bruntwood as part of this wider refinance. With the evolution of office space beyond Covid, Bruntwood’s exceptional track record over the last five years we have worked together coupled with their forward-thinking, sustainable approach to their customers, gives us significant comfort providing long term facilities in this sector.

We’re especially pleased to see the completion of yet another sustainable transition loan since the launch of our initiative in December and proud to be helping one of the industry’s first movers on sustainability to increase the scale and scope of their decarbonisation. This strong borrower-lender partnership includes a commitment to review performance targets regularly throughout the term, in line with an anticipated evolution of ESG measures over the loan period.”

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