The European Bank for Reconstruction and Development (EBRD) is providing a €250 million green loan to NE Property BV, a subsidiary of NEPI Rockcastle, to finance sustainable real estate investments across Central, Southern and Eastern Europe.
NEPI Rockcastle is Europe’s third-largest listed retail real estate company by investment portfolio value and the largest owner, operator, and developer of shopping centres in Central and Eastern Europe. The company’s €8.2 billion portfolio is located across eight CSEE countries and includes 60 properties.
The eight-year senior unsecured loan will support new developments, upgrades and expansion of green retail assets, primarily in Romania, Bulgaria, Poland and Hungary.
The EBRD’s investment will finance eligible green projects under NEPI Rockcastle’s Green Finance Framework, which is aligned with ICMA Green Bond Principles and LMA Green Loan Principles. All eligible green projects will meet ambitious environmental criteria, either by achieving internationally recognised green building certification or by delivering defined and measurable improvements in the assets to low-carbon installations and/or to enhance energy performance. The full eligibility criteria, including applicable certification thresholds, are set out in NEPI Rockcastle’s Green Finance Framework.
The transaction will also help advance decarbonisation in the real estate sector as NEPI Rockcastle has set a target to implement the UK Net Zero Carbon Buildings Standard across its new developments, supporting the transition to more energy-efficient, low-carbon buildings in the EBRD regions.
Beyond the physical investments, the project includes a multi-year training programme for more than 300 employees, focused on digital, AI, cybersecurity and environmental-management skills, supporting the sector’s shift towards more data-driven and sustainable asset management.
The EBRD’s financing provides long-term funding that complements NEPI Rockcastle’s existing capital markets and bank financing, helping NEPI Rockcastle diversify its funding sources and accelerate its green investment programme. The project is fully aligned with the Paris Agreement, with 100 per cent of the Bank’s financing classified as green.
