Raising capital to build green office spaces
For real estate broker Horatiu Florescu (photo), a green building involves stronger tenants, such as multinational companies identified with the “green concept”. Furthermore, a developer who plans on going green has good chances of attracting the funding he needs.
“If a bank were to choose between financing a number of traditional real estate projects and a green building, it would certainly go for the latter. Tenants’ quality is higher, and this would add value to the project in the event of a sellout”, said Horatiu Florescu, Chairman and CEO of real estate consultant The Advisers/Knight Frank.
Florescu has been the exclusive leasing agent for The Lakeview, jointly developed by AIG Lincoln and Fabian. Developers need to have a closer look on green buildings, he continued, even if this involves higher construction costs.
“If a bank were to choose between financing a number of traditional real estate projects and a green building, it would certainly go for the latter. Tenants’ quality is higher, and this would add value to the project in the event of a sellout”, said Horatiu Florescu, Chairman and CEO of real estate consultant The Advisers/Knight Frank.
Florescu has been the exclusive leasing agent for The Lakeview, jointly developed by AIG Lincoln and Fabian. Developers need to have a closer look on green buildings, he continued, even if this involves higher construction costs.