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Record sustainability linked loan for Blackstone

12th October 2023

Blackstone has secured A$1.45 billion ($930 million) for a sustainability-linked loan for its Australian industrial portfolio.

The investment manager said this loan was the largest of its kind to date in Australia’s industrial sector.

MUFG Bank acted as sole sustainability coordinator and joined Morgan Stanley, National Australia Bank and United Overseas Bank as mandated lead arrangers, underwriters and bookrunners.

Chris Tynan, head of real estate Australia at Blackstone, said: “We’re proud to be at the forefront of the industrial sector in Australia, where we’ve built a high-quality portfolio of more than 140 logistics assets and executed some of the country’s largest transactions in the sector. Blackstone has been a committed investor in Australia for the past decade, supporting local businesses, communities, and economy. This is an important step towards supporting Blackstone’s belief in sustainability as a value creator.”

Eric Duchon, global head of ESG, Blackstone Real Estate, said: “BWe’re thrilled to secure our first third-party verified SLL in the region, which we believe will improve the performance of our assets, the overall experience for our occupiers, and drive long-term value for our investors.”

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