Greenward prepares two investment funds for building rehabilitation

Greenward prepares two investment funds for building rehabilitation

Greenward is preparing to exploit the gold-mine of buildings in need of rehabilitation. The fund management company is finalising two investment vehicles which will be exclusively focused on investing in building rehabilitation in order to generate sustainable and energy efficient buildings, according to EjePrime.

One of the vehicles will have access to the capital of four international investment funds and a second fund will be supported by a single institutional fund, also international. «In the United States they have had years of experience with this process and it is now normalised», stated Fernando de Roda, founder and managing partner at the company. «Our job is understood by funds which provide long-term private equity», he added.

The second vehicle is subject to any changes there might be on the Climate Change Law, which is being studied by a committee and which is expected to be announced this month. De Roda expects both vehicles to be incorporated this year and to start operating by the end of 2021.

«It is a business where the big players play, we cannot be shy»

De Roda pointed out that Spanish investors do not have a tradition with this type of operations, de Roda pointed out that Covid-19 accelerated the trend. «Within the last eight months perception changed significantly and we are more aware of the needs the Spanish stock has», he stated.

Private investment is beginning to become an alternative to Next Generation investment funds, of which Spain will use 14 billion euro to rehabilitate houses. «This boost needs to be accompanied by private financing in order to succeed», sustained De Roda.

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