Innovative financing and investment solutions for environmentally sustainable real estate
© Ateliers Jean Nouvel
The residential and office building sector is currently the largest source of energy use in the European Union*. As we become increasingly aware of these environmental aspects in the property sector, environmentally sustainable real estate financing and investment solutions are becoming more widespread. Natixis is fully committed to developing the green economy and offers its clients a varied range of innovative environmentally sustainable real estate financing and investment solutions.
Green commercial real estate loans
Our subsidiary Natixis Assurances and its partner Ivanhoé Cambridge obtained the first green-labelled commercial real estate loan certification in Europe with the “Climate Bond Certified” label awarded by Climate Bonds Initiative (CBI) for the €480-million credit that is financing development of the DUO towers in Paris. Natixis is also green certification agent on this loan.
Construction of the DUO towers will meet the toughest environmental and energy performance criteria, as guaranteed by the Effinergie+ label and outstanding HQE® and LEED®1 Platinum certifications.
Oekom research AG was verifier of the Low Carbon Buildings-Commercial Properties (real estate) standard and established the structure of the reporting for the monitoring of environmental certifications, energy consumptions and CO2 issues for the DUO project.
Green real estate securitization
Natixis is a pioneer on the green real estate securitization market.
It issued the first ever “green” CMBS2, or commercial mortgage-backed securitization transaction, in July 2017 in collaboration with Ivanhoé Cambridge and Callahan Capital Properties,
We issued a $72 million green-specific tranche to finance a $358.6 million mortgage loan we provided to Ivanhoé Cambridge for the acquisition of a New York building.
The office building located at 85 Broad Street in the Wall Street financial district, has a LEED® Platinum certificate for complying with environmental criteria.
Sustainable investment ratings agency oekom research AG reviewed all the mortgage-backed securities and confirmed the deal’s alignment with green principles.
Eco-responsible active real estate management
Natixis provides real estate investment advisory services and real estate asset management for third parties via our subsidiary AEW Europe3. The following environmental criteria are factored into its asset management and for acquisitions:
- for the acquisition of new buildings, only properties that have obtained environmental certification (HQE®, BREEAM®, LEED® or BBC®4) are accepted;
- for the purchase of existing buildings, environmental performance assessments are systematically carried out and are included in the provisional spending budget for environmental improvements.
A recognized environmental policy
* Source ADEME – 2017
1 HQE = Haute qualité environnementale or high environmental quality ; Leadership in Energy and Environmental Design
2 commercial mortgage-backed security
3 Subsidiary of Natixis Investment Managers and La Banque Postale Asset Management
4 BRE Environmental Assessment Method, , BBC = Bâtiment de Basse Consommation or low energy use
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader, invests in high-quality properties and real estate companies in select
cities around the world. It does so prudently, with a long-term view to generate optimal, risk-adjusted returns. Founded in Quebec
in 1953, Ivanhoé Cambridge has built a vertically integrated business across Canada. Internationally, Ivanhoé Cambridge invests
alongside key partners and major real estate funds that are leaders in their respective markets. Through subsidiaries and
partnerships, Ivanhoé Cambridge holds interests in nearly 800 buildings, primarily in the residential, office, retail and logistics real
estate sectors. Ivanhoé Cambridge held approximately C$56 billion in assets as at December 31, 2016. Ivanhoé Cambridge is a
real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada's leading institutional fund
managers. For more information: www.ivanhoecambridge.com.
About Callahan Capital Properties
Callahan Capital Properties (CCP) is a real estate private equity firm focused exclusively on the acquisition and management of
high‐quality office properties in the central business districts of major U.S. gateway cities. Together with its strategic partner,
Ivanhoé Cambridge, CCP’s office platform currently totals almost 17 million square feet, with properties located in New York,
Boston, Chicago, Seattle, Denver and Los Angeles. For more information: www.callahancp.com
About oekom research AG
oekom research AG is one of the world’s leading rating agencies in the field of sustainable investment. The agency analyses
companies and countries with regard to their environmental and social performance. oekom research has extensive experience
as a partner to institutional investors and financial service providers, identifying issuers of securities and bonds which are
distinguished by their responsible management of social and environmental issues. More than 160 asset managers and asset
owners routinely draw on the rating agency’s research in their investment decision-making. oekom research’s analyses therefore
currently influence the management of assets valued at over 1.5 trillion euros. oekom research was distinguished as the “most
impressive Second Opinion Provider” (SPO) at 2016 SRI / Green Bond Awards. The competition initiated by international trade
magazine GlobalCapital recognises those market players – from green bond issuers and investors to book runners and second
opinion providers – who further the market and set its standards through excellent and innovative projects, high quality and
professional expertise. For more information: www.oekom-research.com