Neovantage Innovation Parks Secures Rs 300 Crore Green Loan for Life Sciences Real Estate Portfolio
Neovantage Innovation Parks has secured its inaugural green loan of Rs 300 crore from HSBC India, marking HSBC's first green loan facility in the life sciences real estate sector in India.
Life Sciences Real EstateGreen LoanHsbc IndiaNeovantage Innovation ParksIvanho CambridgeReal EstateSep 17, 2024
The green loan facility was awarded to Neovantage Innovation Parks due to its commitment to eco-innovation and sustainable operations across its properties. The company has achieved a prestigious Gold or higher rating under the LEED for Operations and Maintenance (O+M) - Existing Buildings certification, awarded by the US Green Building Council, for all its operating buildings.
Neovantage Innovation Parks, located in Genome Valley in Hyderabad, is home to leading Pharma and Life Sciences Research and Development (R&D) companies and is South Asia's leading privately operated life sciences real estate portfolio. The portfolio is set up as a joint venture (JV) between Ivanhoé Cambridge, the real estate group of CDPQ, and Lighthouse Canton, a global investment institution.
Refinancing of existing debt with the green loan facility is aligned with the company's ongoing initiatives to maintain an environmentally responsible and operationally efficient real estate portfolio. The portfolio consists of 8 world-class, Grade 'A' facilities with premier multi-national and large Indian companies as tenants.
The portfolio consists of buildings that have been additionally awarded the LEED Platinum and Gold Certifications for Building Design and Construction - Core and Shell Development, demonstrating excellence and leadership in sustainable design in addition to sustainable operations. Neovantage Innovation Parks has incorporated a forward-thinking approach towards the development of environment-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 the 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, a global investment organization. Ivanhoé Cambridge has a strong presence in India and has invested in several real estate projects across the country.
About Lighthouse Canton Lighthouse Canton is a global investment institution that has invested in several real estate projects across the world. The company has a strong presence in India and has partnered with Ivanhoé Cambridge to develop the Neovantage Innovation Parks portfolio.
Information Neovantage Innovation Parks is a life sciences-focused real estate portfolio that is located in Genome Valley in Hyderabad. The portfolio is home to leading Pharma and Life Sciences Research and Development (R&D) companies and is South Asia's leading privately operated life sciences real estate portfolio.
HSBC India is a leading banking and financial services organization in India. The company has a strong presence in the country and offers a wide range of banking and financial services to its customers.
Tags life sciences real estate, green loan, HSBC India, Neovantage Innovation Parks, Ivanhoé Cambridge, Lighthouse Canton
FAQs
Q What is the amount of the green loan secured by Neovantage Innovation Parks?
A The amount of the green loan secured by Neovantage Innovation Parks is Rs 300 crore.
Q Who has provided the green loan to Neovantage Innovation Parks?
A The green loan has been provided by HSBC India.
Q What is the purpose of the green loan?
A The purpose of the green loan is to refinance existing debt and maintain an environmentally responsible and operationally efficient real estate portfolio.
Q What is the LEED certification awarded to Neovantage Innovation Parks?
A Neovantage Innovation Parks has been awarded the LEED Gold or higher rating under the LEED for Operations and Maintenance (O+M) - Existing Buildings certification.
Q What are the new projects being developed by Neovantage Innovation Parks?
A The new projects being developed by Neovantage Innovation Parks are Building 9900 and Building 4500 in Genome Valley.
Frequently Asked Questions
What is the amount of the green loan secured by Neovantage Innovation Parks?
The amount of the green loan secured by Neovantage Innovation Parks is Rs 300 crore.
Who has provided the green loan to Neovantage Innovation Parks?
The green loan has been provided by HSBC India.
What is the purpose of the green loan?
The purpose of the green loan is to refinance existing debt and maintain an environmentally responsible and operationally efficient real estate portfolio.
What is the LEED certification awarded to Neovantage Innovation Parks?
Neovantage Innovation Parks has been awarded the LEED Gold or higher rating under the LEED for Operations and Maintenance (O+M) - Existing Buildings certification.
What are the new projects being developed by Neovantage Innovation Parks?
The new projects being developed by Neovantage Innovation Parks are Building 9900 and Building 4500 in Genome Valley.
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