January 17 (SeeNews) - NEPI Rockcastle, a property investment and development group incorporated in the Isle of Man, said on Tuesday it contracted a 60 million euro ($65 million) green loan to upgrade the recently acquired Ploiesti Shopping City mall in Romania.
The green loan was granted by a syndicate of banks led by BRD Groupe Societe Generale, the company said in a press release.
The financing comes three months after NEPI took over 50% of Ploiesti Shopping City from French retailer Carrefour, following a 55.5 million euro deal, becoming the sole owner of the mall.
"In Romania, the largest market in which NEPI Rockcastle operates, we are in the process of reducing the impact of our portfolio on the environment by installing photovoltaic panels, with the aim of increasing our renewable energy use," NEPI Rockcastle Chief Financial Officer Eliza Predoiu said.
Ploiesti Shopping City opened in 2012 following a 65 million euro joint investment from Carrefour and NEPI, according to information posted on its social media page. The mall features a 55,000 sq m leasable area.
NEPI Rockcastle owns and operates shopping centres in nine Central and Eastern European countries, summing up a 5.8 billion euro portfolio as of end-2021. Its shares are listed on the Johannesburg Stock Exchange, Euronext Amsterdam and A2X.
BRD - Groupe Societe Generale SA is among the biggest banks in SEE, for more reference take a look at Top 100 banks