Real estate fund manager Redevco has provided a loan just shy of €50M to finance the development of a sustainable logistics scheme in the Netherlands.

Lending to Financière ID, ID Logistics Group's development arm, the transaction marks the fourth deal that Redevco’s real estate debt platform has closed, according to the real estate manager. 

Set up as a green loan, the debt facility will be used to finance the development of a new 52,815-square-meter, Grade A logistics scheme in the Medel industrial area in Tiel, a key transportation hub in the Netherlands.

The project includes a warehouse, an office and mezzanine space and is more than 70% pre-let to ID Logistics. The loan was provided for two years and includes a one-year extension option.

The project is targeting BREEAM Excellent certification and is expected to be up to 75% self-sufficient by generating energy through on-site renewable generation, including photovoltaic solar panels with 2.5 megawatts of peak solar capacity to avoid potential local grid congestion.

As the scheme will be connected to the Medel Energy Island, a shared local energy hub, any excess energy produced will be stored through an on-site battery, with surplus energy being fed back into the energy island. 

Any future surpluses in energy could then be used to produce green hydrogen locally or charge electric company vehicles on-site, for example.

Next to its energy solutions, the project in Tiel targets BREEAM Excellent certification and will include heat pumps, EV charging infrastructure, biodiversity enhancements, sustainable drainage systems and occupier well-being features. 

The Redevco Real Estate Debt platform finances projects across a broad range of property types in Europe’s main markets. Other recent deals include a €57M green loan for a residential scheme in Dublin and a €107M facility for a logistics development in Germany.