Manulife US REIT has secured USD100 million incremental green loan facility from OCBC Bank.
The green loan was raised under the REIT’s newly established green finance framework, which was developed together with OCBC Bank.
The facility is Manulife US REIT’s maiden green loan facility.
Proceeds from the loan will be used primarily to refinance Peachtree, a 27-storey Grade A office property in Midtown, Atlanta.
The REIT’s manager may also use the proceeds for environmental initiatives at other properties within MUST’s portfolio, such as installing energy efficient equipment and water saving facilities, among others.
“Besides minimising the environmental footprint of our properties, our sustainability strategy complements our proactive capital management approach in terms of diversifying our funding sources with green financing”, said Jill Smith, CEO of Manulife US REIT’s manager.