Hines, the global real estate investment, development, and management firm, has closed two green financing deals in Spain totaling €96 million through its Hines European Property Partners (HEPP) fund. These two transactions correspond to the refinancing of two Hines assets in Madrid: Stay Cuatro Vientos, a residential complex with 531 rental apartments, and Nexus San Fernando, a newly built logistics warehouse consisting of four units and offering a gross lettable area of 27,000 square meters.
The first transaction, related to the Stay Cuatro Vientos asset, was underwritten with ING for an amount of €78 million. Hines was legally advised by Hogan Lovells, while ING was advised by DLA Piper.
The second transaction, corresponding to the Nexus San Fernando asset, was signed with the German bank Deutsche Hypo – NORD/LB Real Estate Finance for €18 million. In this deal, Hines was legally advised by Garrigues, and Deutsche Hypo – NORD/LB Real Estate Finance by sdh rechtsanwälte.
Both mortgage loans have a five-year maturity, and the funds raised have been used to refinance the equity contribution made by HEPP at the time of acquiring the assets.
Both operations have been classified as Green Loans, as the assets meet the sustainability standards and ESG criteria required by the financing entities. The properties hold low-energy consumption certificates and environmental accreditations that comply with European sustainability standards.
“These financings reflect how we are integrating sustainability criteria into all our investment and financing decisions,” said Vanessa Gelado, Senior Managing Director and Head of Spain and Portugal at Hines. “Our goal is for every Hines asset to contribute long-term to generating real value for investors, tenants, and the cities where we operate.”
The Nexus San Fernando asset is a logistics complex leased to Hilti and Velzia, located in the San Fernando de Henares industrial area. It comprises 27,000 square meters of built area, 34 loading docks, and large maneuvering zones. It holds a BREEAM Excellent certification and was recognized as the first asset in Spain aligned with the European taxonomy.
Stay Cuatro Vientos, acquired at the end of July 2025 through the Hines European Property Partners (HEPP) fund, is a residential complex of 531 apartments in Madrid’s Cuatro Vientos neighborhood, which has reached a 75% occupancy rate in just a few months of commercialization. The property, with over 4,000 square meters of common areas —including a swimming pool, gym, spa, cinema, and coworking spaces— holds BREEAM Very Good, Fitwel 2-star, and EPC A certifications, and operates entirely without fossil fuels thanks to its efficient and sustainable design.
With these transactions, the Hines European Property Partners fund strengthens its presence in the Spanish market and continues to advance its sustainable financing strategy across Europe.
About Hines
Hines is a leading global real estate investment manager. We own and manage $91.8 billion¹ in assets across various property types on behalf of a diverse group of institutional and private clients. Every day, our 4,600 employees in 30 countries build on our 68-year history to create a better world by investing in, developing, and managing some of the world’s best real estate. For more information, visit www.hines.com
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