Clarion Partners Europe (“CPE”) is a UK-headquartered pan-European investor and manager with a focus on logistics and light industrial properties. Established in 2006¹, CPE is a part of the Clarion Partners Group, a leading US real estate investment manager with $75.6 billion in total assets under management².

CPE has 18 years of experience in acquiring, managing and developing high-quality commercial real estate concentrated around some of Europe’s largest cities, on behalf of institutional investors. It seeks to be a partner of choice for businesses of all shapes and sizes courtesy of its strategy focused on providing modern and sustainable assets.

NatWest’s Funds Financing team has structured a €240 million net asset value-based (NAV) facility for one of CPE’s co-mingled funds, which reports under Article 8 SFDR. It is expected that the proceeds will predominantly be used to fund green projects – including the refinancing of an existing portfolio of highly sustainable assets – and the acquisition of assets that meet, or are targeting, certain green energy certifications and green capex initiatives. The facility, which incorporates green loan provisions in alignment with the LMA Green Loan Principles represents the first Green NAV line that NatWest has structured and that CPE has entered.

Florina Capraru,Acquisitions Director, Clarion Partners Europe: “Having green loan provisions in the NAV facility is a natural next step on our sustainability and value creation pathway, and supports our aim of keeping our portfolio of mission critical assets future proofed. We have been especially impressed with NatWest, who’s depth of understanding around the decarbonisation issues facing the real estate industry aligns with our own ethos of sustainability being a risk mitigant and value driver and has been a key driver of what is an exciting new lender relationship for us.”

Dan Kumagai, Head of Asset Backed Funds Financing, NatWest: “Supporting CPE’s financing needs through this innovative green structure is an important step in the evolution of the NAV line product. It allows Clarion, and hopefully other leading investors in the future, to continue playing an important role in decarbonisation and responsible investing more broadly.”

Rahel Haque, Climate & ESG Capital Markets Lead, Private Finance, NatWest: “We are delighted to have supported CPE with its inaugural green NAV facility, which provides the means to acquire additional logistics assets and enhance the energy performance of assets where necessary. We look forward to partnering further with Clarion as they seek to play a leading role in the decarbonisation of the built environment”