Barings Real Estate secures £62 million Green Loan refinancing for its office building redevelopment

The company Barings Real Estate closed a £62 million Green Loan refinancing, in which the Bank acted as Arranger, Underwriter, Facility Agent and Hedge Provider.

office building

Crédit Agricole CIB successfully arranged a £62 million 3+1-year Green Senior Secured Term Loan Facility to assist Barings, one of the world’s largest diversified real estate investment managers, with the refinancing and refurbishment of an office building located in Moorgate in the City of London. Barings acquired the asset earlier this year as part of a pan-European value-add real estate strategy.

The transaction assists with the repositioning of the property, which is expected to be fully refurbished by Q2 2024. Upon completion, the 80,710 sq. ft. long-leasehold building will become a high quality space with top green credentials, with Barings targeting BREEAM Excellent/Outstanding certification.

Crédit Agricole CIB acted as Arranger, Underwriter, Facility Agent and Hedge Provider. Barings was advised by the International Law Firm: Ashursts.

“Our thanks to our client for entrusting us with this Green Loan refinancing, assisting with the repositioning of 25 Moorgate.” Arnaud Levacher, Executive Director, Real Estate & Hotel Group at Crédit Agricole CIB

“25 Moorgate will be a best in class asset that is highly in demand among occupiers. With excellent ESG credentials an increasing focus for occupiers and investors, this green financing will help create a top quality office space in the heart of London’s business district.” Darren Hutchinson, Managing Director and Head of UK Real Estate Transactions at Barings