Lion’s Head Investments, the commercial real estate investor owned by Old Mutual Property and AG Capital, has secured €150 million in fresh funding from the International Finance Corporation (IFC), part of the World Bank Group.
IFC investment will support Lion’s Head plans to develop its first industrial projects in Romania and Bulgaria. At present, the company owns five office buildings in Bulgaria and Romania.
“Strengthening logistics infrastructure and connectivity within regional and global value chains remain important objectives for Bulgaria and Romania in the current context,” said Ary Naïm, IFC Manager for Central and South Europe. “It is key for any new piece of infrastructure in the region to be built with the highest energy-efficiency standards, and we are pleased to be mobilising financing to support LHI in the pursuit of this dual goal,” he added.
The financing facility includes a convertible instrument and a syndicated loan. As part of the investment agreement, the company’s logistics assets will be certified with the IFC’s EDGE Advanced green building certification.
