EG launches Australian sustainable office trust
EG Funds Management has launched a sustainable real estate fund, according to IREI’s FundTracker database.
High Income Sustainable Office Trust will target Australian office assets with low energy ratings and upgrade them to high energy ratings.
“EG has identified sustainability as a key value driver. We look forward to making a real improvement in the energy efficiency of selected buildings, in a way that also produces great commercial outcomes for our investors,” said Adam Geha, CEO of EG, in a statement.
The value-added fund, which is targeting A$300 million ($228 million), has raised A$150 million ($114 million) thus far from the Clean Energy Finance Corporation, according to a statement.
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