{"id":11071,"date":"2017-07-07T13:00:26","date_gmt":"2017-07-07T13:00:26","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=11071"},"modified":"2026-04-07T15:14:09","modified_gmt":"2026-04-07T12:14:09","slug":"ivanhoe-cambridge-secures-green-bond-85-broad-street","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/ivanhoe-cambridge-secures-green-bond-85-broad-street\/","title":{"rendered":"Ivanho\u00e9 Cambridge Secures Green Bond for 85 Broad Street"},"content":{"rendered":"
\"\"<\/a>

85 Broad St (courtesy of Yardi Matrix)<\/p><\/div>\n

Ivanho\u00e9 Cambridge, one of the foremost Canadian real estate industry players, announced it has secured $72 million-worth of green bonds from Natixis. The loan is backed by 85 Broad<\/a>, a 1.2 million-square-foot Lower Manhattan<\/a> high-rise the company acquired<\/a> in May.<\/p>\n

Since last year\u2019s G20 meeting, green financing<\/a>\u2013financing that focuses on investing in sustainable and environmentally-friendly projects\u2013has been on the uptick. Natixis\u2019 first green-specific tranche on the New York commercial real estate<\/a> market signaled its contribution to the $53 billion green bonds issuance so far this year. With $81 billion worth of bonds issued in 2016<\/a>, estimates for 2017 point to a doubling of the market by the end of the year.<\/p>\n

The French lender also obtained a second opinion confirming the viability of the tranche for the LEED Platinum-certified 85 Broad as a sustainable investment via oekom research AG<\/a>. Nathalie Palladitcheff, CFO at Ivanho\u00e9 Cambridge, declared: \u201cThis financing is a great example of how like-minded global players are able to work together to bring new green initiatives to the market, which is right in line with Ivanho\u00e9 Cambridge\u2019s commitment towards sustainability.\u201d<\/p>\n

The $72 million loan has a 3.69% interest rate and is securitized through the Credit Suisse-sponsored CSAIL 2017-C8 series<\/a>. The final deal includes three pari passu<\/em> notes, a B-note and a mezzanine loan, bringing the grand total to $358.6 million for the 1983-built high-rise.<\/p>\n

In 2015, a $112 million revamp of the property managed to almost double the occupancy rate, which currently rests at 87.1%, bringing in high-profile tenants like WeWork, Oppenheimer and Vox Media. Due to the use of several areas as trading floors by former tenant Goldman Sachs, the building has many large, column-less floors. Current amenities include a bike room, a full-service Belgian bistro and a wellness center operated by WeWork.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ivanho\u00e9 Cambridge, one of the foremost Canadian real estate industry players, announced it has secured $72 million-worth of green bonds from Natixis. The loan is backed by 85 Broad, a 1.2 million-square-foot Lower Manhattan high-rise the company acquired in May. Since last year\u2019s G20 meeting, green financing\u2013financing that focuses on investing in sustainable and environmentally-friendly…<\/p>\n","protected":false},"author":56,"featured_media":11073,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,39],"tags":[],"class_list":["post-11071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-office","wpautop"],"acf":[],"yoast_head":"\nIvanho\u00e9 Cambridge Secures Green Bond for 85 Broad Street - CommercialCafe<\/title>\n<meta name=\"description\" content=\"Ivanhoe Cambridge has secured green bond financing for 85 Broad Street, reinforcing its sustainable investment strategy in Lower Manhattan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/ivanhoe-cambridge-secures-green-bond-85-broad-street\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ivanho\u00e9 Cambridge Secures Green Bond for 85 Broad Street\" \/>\n<meta property=\"og:description\" content=\"Ivanhoe Cambridge has secured green bond financing for 85 Broad Street, reinforcing its sustainable investment strategy in Lower Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/ivanhoe-cambridge-secures-green-bond-85-broad-street\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-07T13:00:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-07T12:14:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/07\/new-york-city-336475_1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/ivanhoe-cambridge-secures-green-bond-85-broad-street\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/ivanhoe-cambridge-secures-green-bond-85-broad-street\/\",\"name\":\"Ivanho\u00e9 Cambridge Secures Green Bond for 85 Broad Street - 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