EBRD provides €250 million green loan to NEPI Rockcastle

The European Bank for Reconstruction and Development (EBRD) is providing a €250 million green loan to NE Property BV, a subsidiary of NEPI Rockcastle, to finance sustainable real estate investments across Central, Southern and Eastern Europe. The bilateral eight-year senior unsecured loan will support low-carbon buildings and sustainable new developments, according to a press release issued on 10 August 2026. The financing will also back skills development and digital transformation across the company’s portfolio. It targets green retail asset upgrades and expansion in the CSEE region. The transaction is fully aligned with the Paris Agreement, with 100 per cent of the Bank’s financing classified as green.

NEPI Rockcastle is Europe’s third-largest listed retail real estate company by investment portfolio value. It is the largest owner, operator, and developer of shopping centres in Central and Eastern Europe. Its €8.2 billion portfolio spans eight CSEE countries and comprises 60 properties. The company operates across markets including Romania, Bulgaria, Poland and Hungary. These four countries are the primary focus of the new financing.

The loan will finance eligible green projects under NEPI Rockcastle’s Green Finance Framework, which is aligned with ICMA Green Bond Principles and LMA Green Loan Principles. Eligible projects must either achieve internationally recognized green building certification or deliver defined and measurable improvements toward low-carbon installations or enhanced energy performance. The full eligibility criteria, including applicable certification thresholds, are set out in NEPI Rockcastle’s Green Finance Framework. The financing supports new developments, upgrades, and expansion of green retail assets. It complements NEPI Rockcastle’s existing capital markets and bank financing.

The transaction will help advance decarbonization in the real estate sector. NEPI Rockcastle has set a target to implement the UK Net Zero Carbon Buildings Standard across its new developments. This measure supports the transition to more energy-efficient, low-carbon buildings in the EBRD regions. Beyond the physical investments, the project includes a multi-year training program for more than 300 employees. Training will focus on digital, AI, cybersecurity and environmental-management skills, supporting the sector’s shift toward more data-driven and sustainable asset management.

The EBRD’s financing provides long-term funding that helps NEPI Rockcastle diversify its funding sources. It will also accelerate the company’s green investment program. The initiative combines physical infrastructure upgrades with workforce development across the portfolio. It reinforces the shift toward sustainable practices in the CSEE retail real estate sector. The financing consolidates the partnership between the EBRD and NEPI Rockcastle around green investment objectives.