The EBRD has invested €76 million in VGP's green bond program, supporting the company’s development and fund acquisitions of sustainable parks across Croatia, Czechia, Hungary, Romania, Serbia, and the Slovak Republic.
The investment expands VGP's existing €500 million senior unsecured five-year green bonds, bringing the total outstanding amount to €576 million.
Proceeds from the EBRD investment are specifically earmarked for EU-taxonomy-compliant assets, buildings that surpass nearly-zero energy building standards by at least 10%, renewable energy capacity, and the acquisition of existing buildings that are either top-tier in performance or hold an EPC A certification.
This initiative is crucial for improving sustainability in Central and South-Eastern Europe's industrial real estate market, which currently faces an undersupply of A-class logistics stock and a scarcity of EU-taxonomy-compliant buildings.
Jan Van Geet, CEO of VGP, commented: “These regions face growing demand for modern, efficient logistics infrastructure. Through this partnership, we aim to deliver buildings that meet high quality environmental performance standards and support the ongoing decarbonisation of the real estate sector.”
The EBRD has a substantial investment history in the region, having invested €35.2 billion across these six countries to date.
