Green Real Estate & Property

Climate action and the environmental impacts of buildings are an increasingly important business consideration in the real estate sector as investors and stakeholders develop a focus on sustainability. Green leases and green lending are two of the key initiatives and focusses in the real estate sector currently.

These are leases incorporating clauses which provide the owner and the occupier with specific responsibilities with regard to the sustainable occupation and management of a property. Green leases are aimed at helping landlords and tenants meet targets on energy efficiency and sustainability. Importantly they can have an increasingly positive impact on a building's marketability and value.

This is a type of lending focussed on projects which meet key environmental targets. As we move towards a greener and more sustainable real estate sector, we are seeing an increase in the number of green loans made available in property finance transactions. It is anticipated that this trend is set to continue, as stakeholders pursue their own sustainability targets and owners are attracted by the lower rates offered by green loan providers.

Our Commercial Property team has considerable experience advising on green leases and green financing. We work closely with our colleagues on other teams to provide expert advice and develop bespoke precedents to meet our clients' individual needs. We have recently been advising on new developments and the retrofit of existing developments, green finance transactions and on the delivery of the largest renewable energy projects in Ireland.

Experience

  • Owner of 76 Sir John Rogersons Quay

    a building which obtained LEED v4 Gold certification, in relation to green lease clauses and the sale of the building.

  • Mapletree Investments PTE Ltd

    on the green financing of Nova Atria, Dublin 18.

  • IPUT

    on the property elements of a €200m green finance deal and the negotiation of green lease clauses in leases for IPUT across its portfolio of properties in Ireland.

  • A syndicate of international lenders

    on the financing of Brookfield Renewable Energy's portfolio of 17 operational windfarms.

  • Statkraft

    on the acquisition of a portfolio of solar power development projects throughout Ireland.