The loan will acquire green loan status upon achievement of LEED® Platinum certification, being the first loan of this type granted in Spain by Banco Santander to a logistics development prior to its commercialization.
Banco Santander has granted the first financing of this type to a logistics development project in Spain prior to its commercialization for Newdock’s new project in the Iberum Central Platform in Illescas (Toledo). A green loan is a formula for financing a project or company based not only on economic profitability but also on ESG criteria.
The viability of the project and compliance with high ESG standards have made it possible for it to be granted
The project, where construction work has already begun, offers 82,000 sqm in three buildings of between 15,000 and 52,000 sqm. The project will be built to Newdock’s high standards, including spacious offices fully equipped with WELL® certification features (to be obtained by the tenant), separate access for light and heavy vehicles and a special focus on sustainability and occupant wellbeing. In this regard, the project aims to become the 5th in Newdock’s portfolio to achieve LEED® Platinum certification, demonstrating its commitment to delivering highly energy efficient Paris Agreement aligned assets to its tenants.
The project is expected to be completed by the end of 2024
For Fátima Sáez del Cano, Newdock’s CEO, this loan, “in addition to all the advantages it entails, is a recognition of both the company’s serious commitment to sustainability and the rigour of its investment policy for logistics assets. We thank Banco Santander for their confidence in this project”.
Newdock is committed to the Illescas logistics hub, the most consolidated in the South of Madrid, at exit 36 of the A-42 highway, ideal for national, regional and local distribution. Companies such as Amazon, Toyota, Michelin, DIA, Zalando, FM Logistic, CBL, H&M or Seur are some of the major tenants already installed in this area.