Aviva Investors provides £236 million financing for student accommodation portfolio
19 August 2019
(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced that it has completed a deal to finance the acquisition of a portfolio of student accommodation assets in the UK.
The deal, which completed last week, saw Aviva Investors provide a £236 million ten-year fixed-rate loan facility to a global institutional investor. The funding was used to assist with the acquisition of a portfolio of a c.£600 million student housing portfolio, representing approximately 3,200 student beds across eight properties in key regional cities throughout the UK, including Manchester, Glasgow and Birmingham.
Gregor Bamert, Head of Real Estate Finance at Aviva Investors, said:
“This deal represents one of the largest acquisition financings in the UK real estate finance market this year. It also demonstrates Aviva Investors’ continued support for the purpose-built student accommodation sector, alongside our strong appetite for best-in-class assets across key regional cities. We believe it positions us well in continuing to deliver stable, long-term investment returns to our clients.”
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Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 4 July, 2019. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested.
Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ Authorised and regulated by the Financial Conduct Authority.
Aviva Investors
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £331 billion as at 31 December 2018.
AVIVA PLC
Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages £331 billion in assets. Total group assets under management at Aviva group are £490 billion.
Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.6 billion in benefits and claims in 2017.
By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
