Glenwell Group, a company specialising in the development and transformation of innovative and sustainable real estate assets, has signed a €34.2 million green loan with CaixaBank. This financing is earmarked for the construction of "Inspire", a carbon-neutral office building that the company is developing in Barcelona.
"Inspire" stands out for being the first office building in Spain with PAS 2060 certification, verifying its design as carbon neutral. It will be located at 66 Pamplona Street, in Barcelona's 22@ district, known for its innovative, technological and sustainable character.
The financing has been categorised as green due to the positive environmental impact of "Inspire", thanks to its sustainable construction and energy efficiency features. This project complies with the Loan Market Association (LMA) Green Lending Principles.
David Sanchez, CEO of Glenwell Group Iberia, said: "Securing financing to promote the construction of this office building shows the market's confidence in the development of this type of sustainable and innovative real estate. He adds: "At Glenwell Group Iberia we are very excited about Inspire, because it is a project that is part of our commitment to transforming the real estate sector and leading a new urbanism in the cities where we operate, such as Barcelona.
The financing has been categorised as green due to the positive environmental impact of "Inspire", thanks to its sustainable construction and energy efficiency features.
The "Inspire" building, previously sold to REInvest for €70 million, will be designed by Batlleiroig. It will have approximately 15,000 square metres of leasable space and will offer some 300 parking spaces. Its modular carbonised wood façade and concrete plinth will highlight its sustainable design.
The building will use the Yakisugi method to treat its façade, reducing CO2 emissions by 67% compared to conventional concrete constructions. "Inspire also stands out for its passive strategies that reduce energy demand and is LEED Platinum, WELL Platinum and PAS 2060 Carbon Neutrality certified.
Construction of the building, which started in February 2023 and was 20% complete in December of the same year, is expected to be completed in December 2024. The work is being carried out by the construction company Certis under the direction of Batlleiroig.
Glenwell Group, with 30 years of experience in the sector, has developed more than 50 projects and focuses on innovation and sustainability. "Inspire" is its second project in the 22@ district, following the success of "Green Business District".
On the other hand, CaixaBank, a partner in the financing, has committed to mobilise 64,000 million euros in sustainable finance until 2024. As of September 2023, it has already reached 67.6% of this target, reaffirming its position as an international benchmark in sustainable finance.
