The Banking and Finance team from independent UK law firm Burges Salmon has advised abrdn, which is part of the abrdn Group, in relation to the senior secured financing of a portfolio of seven multi-let office investments and an industrial estate located in England and Scotland managed by CEG.
abrdn is one of the world’s largest independent, full-service asset managers with a commercial real estate lending platform that has raised circa £4 billion across a number of senior debt strategies. With a strong focus on CEG’s management and operation of the properties in line with environmental, social and governance principles (ESG), the loan marked abrdn’s latest formal foray into green and sustainable lending.
The Burges Salmon team that advised abrdn was led by director Amy McVey, partner Stuart McMillan and associate Samir Younes from the firm’s Banking and Finance team, along with partner Sally Jupp and Paul Clark, consultant in Real Estate.
Ray Ellis, Investment Director of abrdn, says: “We are delighted to have successfully completed this financing deal with the support of Amy and the Burges Salmon team. This senior secured ESG focused financing will enable us to further our firm-wide focus on corporate sustainability.”
Neil Odom-Haslett, Head of Commercial Real Estate Lending, noted: “This is an excellent example of all stakeholders working together in order to achieve the right outcomes from an ESG and lending perspective.”
Amy McVey adds: “This was a great team effort. We’re pleased to have advised abrdn on this financing, and to have supported the team in continuing to build its Commercial Real Estate Lending platform with a focus on green lending.”