Aviva Investors, the global asset manager business of Aviva plc, has agreed a £10.9 million, 7-year, fixed rate loan Valor Real Estate Partners LLP for a warehouse in Acton, West London.
The 64,614 sq ft warehouse was purchased for £18.9m for a net initial yield of 3.5% and is let to Booker until 2026. Gregor Bamert, Head of Real Estate Finance at Aviva Investors said “We are pleased to be initiating a lending relationship with Valor and providing a facility which supports their business plan for this asset, underpinned by very strong demand and supply dynamics. We look forward to building the relationship with Valor further as they continue to invest in the UK and Europe.”
Matt Phillips of Valor Real Estate Partners LLP said “We are delighted to secure long term financing for this infill industrial asset in Acton, West London. Acton is a premier last-mile location with prime access to densely populated submarkets that will continue to benefit from London’s industrial supply and demand imbalance.
Furthermore, the financing proceeds provide additional capital for us to deploy into future industrial opportunities in London and other urban industrial logistics assets across Europe. Partnering with Aviva, a new lender relationship for Valor, validates our strategy and we look forward to working on more opportunities together.”
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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 £346 billion in assets as at 30 June 2019.
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