SINGAPORE - OCBC Bank has provided a green loan of 115 billion South Korean won to M&G Real Estate Asia to refinance an investment in Northgate, a green building in Seoul's central business district, with the bank as the sole lender and green adviser.
The loan proceeds will be used to refinance existing advances within M&G Asia Property Fund, which have been extended for the investment in Northgate. The fund is managed by M&G Real Estate Asia. In 2016, Northgate received the Leadership in Energy and Environmental Design for Existing Buildings Operations and Maintenance Gold rating from the US Green Building Council.
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