'This was a challenging but highly rewarding project': Belfast commercial real estate team play key role in securing one of Northern Ireland’s largest sustainability-linked loans to expand and upgrade affordable housing stock

Northern Ireland law firm Wilson Nesbitt has acted on behalf of Radius Housing in the facilitation of a £75million sustainability linked loan agreement with Danske Bank.

The commercial real estate team helped with the landmark transaction, which is one of the largest sustainability linked loans to have been agreed by a housing association in NI.

The funding will be invested in the development of new social and affordable housing over the next three years, including the development of up to 500 new homes and the refurbishment of a further 1,000 homes to maximise energy efficiency.

The funding is aligned with Radius’ sustainability objectives, incorporating targets focused on reducing greenhouse gas emissions and improving property energy performance certificates.

Commercial real estate associate Izabela Treacy said: "This was a challenging but highly rewarding project to be involved in. This kind of investment is hugely important, particularly at a time when the demand for quality social housing in Northern Ireland is only increasing.

"It is great to see that the funding will support both the construction of new homes and the refurbishment of existing ones – making a real and lasting impact in communities that need it most."

Alan Thomas, director of finance at Radius Housing, added: "It was a pleasure to work with the Wilson Nesbitt team on this significant finance for Radius Housing. The team’s diligence and attention to detail ensured a smooth process to completion, which assisted in bringing the transaction to a successful and timely conclusion."