Neovantage Innovation Parks Secures ₹300 Crore Green Loan for Life Sciences Real Estate Portfolio
HSBC's first green loan facility in the life sciences real estate sector in India
Life Sciences Real EstateGreen LoanHsbc IndiaNeovantage Innovation ParksIvanho CambridgeLighthouse CantonReal EstateSep 17, 2024
The loan was awarded in recognition of Neovantage Innovation Parks' commitment to eco-innovation and sustainable operations across its properties. The company has achieved Gold or higher ratings under the LEED for Operations and Maintenance (O+M) - Existing Buildings certification for all its operating buildings, awarded by the US Green Building Council.
Located in Genome Valley, Hyderabad, Neovantage Innovation Parks is home to leading pharma and life sciences research and development (R&D) companies. The portfolio is a joint venture between Ivanhoé Cambridge, the real estate group of CDPQ, and Lighthouse Canton, a global investment institution.
The refinancing of existing debt with the green loan facility aligns with the company's ongoing initiatives to maintain an environmentally responsible and operationally efficient real estate portfolio. The portfolio consists of eight world-class, Grade 'A' facilities with premier multi-national and large Indian companies as tenants.
The buildings in the portfolio have been awarded LEED Platinum and Gold certifications for Building Design and Construction - Core and Shell Development, demonstrating excellence and leadership in sustainable design and operations. Neovantage Innovation Parks has incorporated a forward-thinking approach towards developing environmentally friendly life sciences innovation infrastructure and has reiterated its commitment in its new projects - Building 9900 and Building 4500 in Genome Valley. Both projects have been awarded LEED Gold Precertification for Building Design and Construction - Core and Shell Development.
Building 9900 was completed earlier this year and has been fully leased to a large Indian contract research company. Building 4500 is targeted to be ready for occupancy by October 2024.
About Ivanhoé Cambridge Ivanhoé Cambridge is the real estate group of CDPQ, one of Canada's leading institutional fund managers. Ivanhoé Cambridge has a global presence with a portfolio of approximately $60 billion in assets.
About Lighthouse Canton Lighthouse Canton is a global investment institution that invests in a wide range of assets, including real estate, private equity, and public markets.
About HSBC India HSBC India is a subsidiary of HSBC Holdings plc, one of the world's largest banking and financial services organizations.
About Neovantage Innovation Parks Neovantage Innovation Parks is the largest private owner and operator of life sciences-focused real estate in South Asia. The company is committed to developing environmentally friendly and sustainable life sciences innovation infrastructure.
Frequently Asked Questions
What is the amount of the green loan secured by Neovantage Innovation Parks?
₹300 crore
Who provided the green loan to Neovantage Innovation Parks?
HSBC India
What is the significance of the green loan facility?
It is HSBC's first green loan facility in the life sciences real estate sector in India
What is the location of Neovantage Innovation Parks?
Genome Valley, Hyderabad
Who are the joint venture partners of Neovantage Innovation Parks?
Ivanhoé Cambridge and Lighthouse Canton
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