Olivia Star received a Green Loan from three existing lenders at the same time; A consortium of Santander Bank Polska S.A., BNP Paribas Bank Polska S.A. and Bank Millennium S.A. Olivia is the first office developer in Poland to announce that it has obtained this type of financing. The refinancing loan required a detailed verification of the implemented solutions for the refinancing of the loan. sustainable development, thanks to which it was possible to obtain attractive financing conditions and increase it to the amount of nearly EUR 83 million. Olivia Star is a part of Olivia Centre, the largest business centre in Poland. Legal services were provided by KLBF Kycia Legal.
“We are glad to continue our cooperation with our partners, as green financing confirms that the adopted strategy in the field of responsible business conduct is appreciated not only by tenants, who willingly choose Olivia as their office location, but also by banks financing investments related to ambitious criteria for green real estate ,” he says Krzysztof Raćkos, Olivia’s Chief Financial Officer.
Obtaining green financing is a confirmation that the solutions implemented in the Olivia Star building – the highest building in northern Polish – meet international standards and are in line with the direction of good, ecological practices that the entire real estate market should follow. Among the criteria that are evaluated are the energy efficiency of systems in buildings, increasing their stability and failure-free operation, monitoring of systems to counteract defects and risks to the natural environment and people working in buildings, as well as pro-social solutions affecting the well-being of employees.
– Green Loan meets the Green Loan Principles developed by the Loan Market Association (LMA), an international association based in London that brings together more than 850 banks, institutional investors, law firms and credit rating agencies. For many years, the LMA has been developing standards for documents, including loan agreements, which are now a commonly used market practice in the world. This is a confirmation of the fact that Olivia is a leader in the commercial real estate industry in Poland and in the world on many levels – says Bogusław Wieczorek, attorney-at-law, Plenipotentiary of the Management Board for public relations.
The special solutions implemented in Olivia include the modernization of the cooling system in the building, thanks to which its efficiency increased by 30%, and the modernization of the water chiller (increase in efficiency by up to 20%). A new automation of air handling units was introduced (reduction of energy consumption by 15%), installation of 100% LED lighting and air ionizers, thanks to which employees can breathe air free of viruses, PM 2.5 and PM 10 dust, free from allergens, mold and fungi. A significant part of the monitoring system was also digitized, which allowed to increase the level of security and reduce the costs of surveillance, and thus the costs of renting space. Thanks to these and a number of other solutions, Olivia has obtained numerous certificates and awards, among which the most important are the BREEAM certification at the Excellent level and the WELL HSR certificate, in which Olivia was the first in the world to obtain 25 points out of 25 possible, in 22 basic categories and 3 additional ones, related to innovations implemented in its area. Olivia is one of the first Polish business centres, despite its lack of commitment, but out of a sense of responsibility, to conduct ESG reporting using the global GRI 2021 standards and TCFD recommendations. In addition, Olivia is implementing further projects, in line with the ESG strategy (m.in. decarbonization, social) and detailed policies in the field of environmental and social responsibility based on the prepared Code of Conduct. Olivia’s commitment to climate issues is also reflected in her membership in the United Nations Global Compact (UNGC), the largest global initiative for sustainable business.
“Such a comprehensive approach to thinking about sustainable development is our consistently implemented standard, including care for Olivia’s natural and social environment,” says Agata Kwapisiewicz, ESG Officer at Olivia Centre. – Our green solutions not only translate into increased business competitiveness, but also attractiveness in the eyes of Gdańsk residents and tourists. The first green loan in the group shows that such thinking also bears fruit in the form of financing granted.
