The firm is wholly owned by MAS Real Estate Inc., an investor and operator of predominantly retail real-estate assets that focuses on Central and Eastern Europe (CEE).
Funds raised from the green bond issue will support the acquisition of green properties and the development of green and sustainable retail and residential assets, predominantly in Romania and potentially in the wider CEE region.
MAS Real Estate has pledged to achieve green building certification for all CEE investment property acquired or developed in the future and for at least 90% of its existing investment properties in the region.
MAS Real Estate is listed on the main board of the Johannesburg Stock Exchange. At the end of 2020, the group had total assets of EUR1.2 billion, including exposure to 55 income-producing properties, either held directly or through its joint venture with Prime Kapital.
The company’s portfolio is largely concentrated in Romania, but the group also owns two shopping malls in Bulgaria and Poland.
In Romania, MAS Real Estate owns 17 retail and residential projects, including Militari Shopping, Atrium Mall Arad, Dambovita Mall Targoviste, Arges Mall Pitesti, Mall Moldova, Alba Iulia Mall.
The EBRD is a leading institutional investor in Romania and has invested almost EUR9 billion in the country to date, with 76% of that in the private sector.