Germany’s Areal Bank has lent Australia-based Pro-invest Group € 25 million for the re-financing of its Holiday Inn Express Macquarie Park hotel in Sydney under its new “Green Finance Framework’.
The set of rules, which were established in the first half of this year, mean that the deal comes with certain qualitative and quantitative environmental criteria attached, such as covenants to which the borrower has committed and which are reviewed on a regular basis. Several design and development initiatives have been incorporated into the hotel, which was built in 2016, in order to reduce energy and water consumption.
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