PJSC Sberbank: Sber finances the construction of business spaces that meet ESG development standards

Sber provided the COLDY Group with mezzanine and project financing totaling 7 billion rubles. The funds will be used to build TALLER, an innovative Class A business space, and will include the refinancing of a loan previously granted by SberInvest.

TALLER is one of the first development projects in commercial real estate implemented using escrow accounts opened with Sber. This mechanism ensures quick settlement between buyer and seller and also makes it easier to finance a business at a reduced interest rate.

James Corrigan, Managing Director, Department of Investments, Sberbank:

“Sber actively supports and facilitates the development of the commercial real estate market. We closely follow changes and new trends in this sector and are ready to launch new products that meet all business needs and make them available to a large number of businesses.

A striking example of our client-centric approach is the implementation of the TALLER pilot transaction in 2020 at the pre-project financing stage before obtaining a building permit, which served as the reason for the launch of our new Project Bridge product in commercial real estate.

In addition, we highly appreciate projects that support the ESG agenda. Environmentally friendly materials, the emphasis on solar power generation, as well as the comfort and safety of the people who will be working in this complex are important factors that guided us when we decided on the allocation funds to finance this project. “

Dmitry Kryuchkov, President of COLDY:

“Development must respect social, environmental and governance development standards that define the image of the entire industry today. The TALLER commercial space, based on the principles of sustainable development, will set a new level for ESG projects and will demonstrate advanced technical solutions complemented by an AI system. The project is being implemented using two market products important to the commercial real estate segment: long-term mortgages and joint participation agreements using escrow accounts with Sber. “

The total area of ​​the TALLER retail space will exceed 46,000 m2, while the installation will be certified in accordance with modern environmental standards BREEAM and LEED. The system includes large-scale solar panels on the roof and Pavegen floor tiles that convert the steps into electricity. The concept of TALLER builds a commercial space that combines technology in a synergistic system that creates a new level of comfort, safety and respect for the environment.

The project involves both small lots, entire floors and entire buildings. TALLER has its own infrastructure: restaurants, cafes, shops, recreation areas and covered parking, which sets it apart from buildings already built. The complex will be built in one of the most popular office hubs in the capital, the Paveletsky business district.

SberInvest (Sberbank Investments LLC) is a wholly owned subsidiary of PJSC Sberbank and is part of its corporate investment activity. Its main activities include financial solutions and structuring through equity and mezzanine instruments, which it offers to the bank’s clients.

Disclaimer

Sberbank of Russia published this content on November 17, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on Nov 17, 2021 05:59:32 PM UTC.


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