Crédit Agricole CIB’s debut green transaction in Korean real estate with ESR
Momentum to gather pace following the Bank’s strategic foray into the sector in 2025.
ESR Kendall Square, ESR’s South Korea platform, has closed a KRW198.5 billion green loan with Crédit Agricole CIB for its Geomdan Logistics Park, a premium logistics asset in Incheon Metropolitan City.
This transaction marks the Bank’s first green loan in Korean real estate, acting as Green Loan Coordinator in addition to Mandated Lead Arranger and Lender. It also represents Crédit Agricole CIB's second collaboration with ESR locally, deepening the partnership with this key client.
ESR, an Asia-Pacific focused real asset owner and manager, has embedded ESG principles into its core strategy, with a focus on logistics real estate, data centers, and energy infrastructure.
A Grade-A Logistics Asset
Located in a strategic logistics hub bordering western Seoul, Geomdan Logistics Park is a landmark, Grade-A 150,000 sqm logistics asset featuring high specifications, including direct ramp access to all warehouse floors, wide docking area for efficient intra-traffic flows, and high clear ceiling height, ample power capacity for automated system. The property's Leadership in Energy and Environmental Design (LEED) Gold certification and excellent connectivity to Greater Seoul have attracted a diversified tenant base for last-mile delivery and regional distribution.
Strategic Market Presence
Korean commercial real estate market continues to demonstrate solid performance, driven by robust e-commerce growth and manufacturing activity. Strong interest from domestic and international investors makes it an attractive market for Crédit Agricole CIB's Real Estate & Lodging expansion.
Well-positioned to capitalise on growing international investment activity, the Bank plans to expand beyond logistics into office, hotel, and other commercial real estate asset classes in the Korean market.
"We're proud to partner again with ESR Kendall Square, a leading logistics real estate player in South Korea for their inaugural green financing, contributing both our real estate and ESG expertise. This transaction highlights the shared commitment of both organisations to sustainable financing and green development. We thank them for their continued trust and look forward to our next collaboration."
Kenneth Yeung
Head of Real Estate & Lodging Asia
“As Primary Coverage Officer covering the global relationship with ESR, I am very excited to see the successful closing of this important transaction. This is a testament to the trust ESR has placed in our international network and our ability to bring tailored financial solutions comprising our real estate and ESG expertise at a location strategic to both ESR and Crédit Agricole CIB. We are eager to build on this momentum and continue deepening our partnership with ESR as we explore new horizons together.”
Marlene Lam
Head of Corporate Coverage for Hong Kong
“The closing of this first green financing is a key milestone in the development of Crédit Agricole CIB's Real Estate & Lodging franchise in South Korea. We are, once again, proving that the Korean real estate market offers very attractive opportunities to serve our global clients, like ESR, in their international expansion. We are convinced that new interesting Real Estate & Lodging projects will materialise soon, strengthening further our Korean franchise.”
Gerald Massenet
Senior Country Officer for South Korea
“We are proud to have structured and coordinated this landmark transaction, which represents Crédit Agricole CIB's first real estate green loan in South Korea. This deal underscores our commitment to supporting the transition toward green real estate in the Asia-Pacific region and demonstrates the growing appetite among Korean developers for ESG financing solutions.”
Carmen Tsang
Executive Director, Sustainable Investment Banking for APAC
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