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Duke Realty Corp., the leading domestic only, pure-play logistics property REIT in the United States, recently closed a $400 million green bond offering as part of its commitment to sustainability. This offering is the first of its kind in the United States by an industrial REIT.
“Duke Realty’s issuance of its inaugural green bond demonstrates our continued commitment to sustainability and environmentally respectful development,” said Jim Connor, Chairman and Chief Executive Officer of Duke Realty. “As a developer, we believe that we have a responsibility to minimize the impact our properties have on the environment, our customers and the communities in which we operate and live. We appreciate the interest and participation of the green investment community in this bond.”
Duke Realty plans to use the net proceeds from its $400 million, 2.875 percent senior unsecured green bond due 2029 to finance future or refinance recently completed “Eligible Green Projects”. This may include green buildings, energy efficiency projects, sustainable water and wastewater management systems, renewable energy projects, clean transportation solutions and pollution prevention and control.
The company, which has long been a proponent of sustainable development, plans to deliver more than $1 billion in industrial assets with LEED® certifications over the next three years and to continue looking for and implementing sustainable practices, processes and products in its existing portfolio of properties.