_{© Hines European Property Partners}

RBS International, supported by NatWest Sustainable Finance Advisory, has structured a bilateral €150 million green investor-backed leveraged facility (“IBLF”) with an uncommitted accordion up to €200 million for Hines European Property Partners (“HEPP”), a diversified, open-ended real estate Core+ fund.

Sponsored by global real estate investment firm, Hines, HEPP seeks to acquire and develop assets across a range of sectors including logistics, office, retail and living across key European markets such as Germany, Spain, and the UK. The Article 8 Sustainable Finance Disclosure Regulation (SFDR) fund has raised €1.24 billion^[1] in commitments.

Creating long-term value for investors and communities through sustainability

Founded in 1957, Hines oversees investment valued at approximately $90.1 billion^[2]. Launched in 2022, HEPP focuses on actively increasing asset-level value through repositioning and ongoing improvements, such as retrofits and refurbishments.

Leveraging the EU-Taxonomy’s substantial contribution criteria

RBS International was the sole lead structuring bank for HEPP’s green IBLF and acted as the green loan structurer. The facility is aligned with core components of the LMA’s Green Loan Principles, whereby the use of proceeds shall be used for acquiring and developing green certified buildings. In addition, the facility also marks the first transaction for RBS International for a real estate fund whereby the EU-Taxonomy’s substantial contribution criteria is integrated as part of HEPP’s assessment criteria governing the eligible use of proceeds.

James Hamelin, Director, RBS International, commented: “Through proactive early engagement, we successfully structured a Green IBLF that not only supports HEPP’s existing sustainability framework and reporting mechanisms but also ensures full alignment with the LMA Green Loan Principles.

Javier Patria, Sustainable Finance Advisory, NatWest: “We are delighted to support HEPP with its inaugural green IBLF and incorporate the EU Taxonomy’s substantial contribution criteria which serves as the gold standard for sustainable activities. This transaction demonstrates NatWest’s continued commitment to supporting the decarbonisation of the built environment.”

[1] As of May 31, 2025.

[2] Includes both the global Hines organization and RIA AUM as of December 31, 2024.

Finance is subject to status. Security may be required. Product fees may apply.

Climate and sustainable financing and facilitation represents only a relatively small proportion of our overall financing and facilitation activities. Details of our financing and facilitation activities and associated emissions can be found in the NatWest Group – 2024 Sustainability Report (sections ‘Estimates of financed emissions’ (p.41) and ‘Estimates of facilitated emissions from bond underwriting and syndicated lending’ (p.45)).