Property and tourism
06 Apr 2022
11 Apr 2022
Up to EUR 50.0 million equity investment in Adventum Penta Co-Investment SCSp (the "Company"), a closed-end limited partnership to be incorporated in Luxembourg to co-invest with Adventum Penta Fund SCA SICAV-RAIF (the "Fund") in acquiring and operating commercial real estate, including mix-used and retail assets, in Central and Eastern Europe ("CEE").
The Banks participation will be used towards the acquisition of two portfolio assets, Sky Tower located in Poland, and a chain of grocery-anchored retail parks (the "Retail Portfolio") located in Hungary and Czech Republic, with potential follow-on investments in Slovak Republic and other CEE markets.
ETI score: 66
The expected Transition Impact will contribute to the "Green" and "Well-Governed" qualities.
Green: The Company will adopt an ESG strategy to systematically assess, manage and report on its sustainability achievements. EBRD participation will be allocated towards green assets, with Sky Tower envisaged to achieve green certification of at least BREEAM "Very Good" (or equivalent), and with the assets in the Retail Portfolio to either achieve BREEAM "Very Good" certification or 30% energy savings.
Well-Governed: The Company will report annually on the environmental and sustainability performance of its portfolio in a specific sustainability section of the regular reports and in line with industry standards on sustainability reporting.