Manulife US REIT secures $141.48m maiden green loan

Proceeds will be used to refinance Peachtree in Atlanta.

Manulife US Real Estate Investment Trust (Manulife US REIT) has secured a $141.48m (US$100m) maiden incremental green loan facility from OCBC Bank, according to an announcement.

The proceeds will be used primarily to refinance Peachtree, a 27-storey Class A office building located in Midtown, Atlanta.

The green loan was raised under Manulife US REIT’s newly established green finance framework, developed together with OCBC Bank.

Manulife US Real Estate Management will also use the proceeds for environmental initiatives at other properties within its portfolio, such as installing energy efficient equipment and water saving facilities, amongst others.