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
Tags:
Related News Articles
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.