Credit: Hines
Ticker

Hines Signs €50 Million Green Loan for Mixed-Use Property Preciados 13

Hines, on behalf of Bayerische Versorgungskammer (BVK), has signed a €50 million green loan with CaixaBank as part of a new financing package for its flagship Preciados 13 project in Madrid. In 2017, the mixed-use building was acquired by Hines on behalf of BVK Highstreet Retail Preciados S.L.U.

The recently renovated complex is located at calle Preciados 13, Madrid’s main pedestrian street, recognized as one of the main shopping destinations in Europe, and lies on the corner of calle Maestro de Victoria. €12 million have been invested in refurbishing the building, which boasts retail space spanning 2,700 sq m, leased to the international fashion brand Bershka, part of the Inditex Group and one of the largest fashion retailers. In addition, the complex has a Chic & Basic hotel and a Naked & Sated health food restaurant.  

Under this agreement, Hines has taken a step forward its ESG strategy to promote energy efficiency and drive down carbon emissions. Preciados 13 has recently obtained its BREEAM certificate in recognition of its commitment to sustainability, while the retail and hotel space have achieved the highest Class A certification for energy consumption.

Vanessa Gelado, Senior Managing Director and Country Head of Hines in Spain said: “We’re very pleased with the refinancing of this historic property in Madrid, which has undergone a very significant transformation in recent years. Thanks to the quality of the refurbishment we’ve managed to agree a green deal with CaixaBank in line with our ongoing ESG strategy.”

Tags: , , ,

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Special Issue “Mixed Use Developments Update”

We present our Online Special "Mixed Use Developments Update".

SPACE – the German Council Congress is back in Berlin

SPACE: Shopping, Places, Attention, Culture, Environment. This is the topic of the 20th German Council Congress 2022.

NEINVER CONTINUES TO GROW IN EUROPE

The Style Outlets is expanding again with a new project under construction: Alpes The Style Outlets.

Lillenium launches an innovative digital loyalty program with Coniq

Lillenium Mall has appointed Coniq to launch a new customer engagement and loyalty program that integrates digital applications and omnichannel innovation to create frictionless retail journeys for their customers.

Top 20 Store Openings to Watch in July 2022

Shopingy Mall Analyser and ACROSS Magazine present the top 20 store openings to watch on a monthly basis. Find here the exclusive data for July 2022.

BIG Shopping Centers Israel acquires two shopping centers in Poland

It is the first acquisition for BIG in Poland, with an investment of approximately 65 million Euro. Hay Galis, CEO of BIG, notes that these two acquisitions support company’s growth plans to become a dominant player in the Retail Park sector in Poland.