The green real estate investment trust (Reit) managed by Abu Dhabi-based energy company Masdar has completed a US$200 million financing deal with First Abu Dhabi Bank (FAB).
The arrangement is designed to finance further acquisitions and portfolio growth, according to Masdar.
FAB will act as sole mandated lead arranger and bookrunner, green loan coordinator, agent, security agent and account bank. The bank has a track record for sustainable finance and issued the region’s first green bond in 2017.
Masdar’s real estate fund was launched in 2020 and was claimed to be the first ‘green’ Reit to be launched in the UAE given that it has a mandate to invest solely in sustainable property projects, including Masdar City, a sustainable urban development project in Abu Dhabi.
The financing deal with FAB comes a year after Masdar contracted Emirates NBD Asset Management to act as the management company for the fund.
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