Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced that it has completed a £136 million deal to refinance a portfolio of mixed-use assets in Central London.
As part of the deal, Aviva Investors has provided a ten-year fixed rate facility to Romulus, a London based property investment and development group. The funding was used by Romulus to extend an existing facility with Aviva Investors and provide additional funds to further enhance its portfolio, with the secured portfolio including assets in King’s Cross, the City of London, and Hammersmith.
Gregor Bamert, Head of Real Estate Finance at Aviva Investors, said:
“We are delighted to extend our existing long-term relationship with Romulus a sponsor which has demonstrated willingness and ability to invest in its assets to enhance value and income. This deal illustrates our continued appetite to support active asset managers with well-let assets in good locations, whilst delivering stable returns to our investor clients.”
Matthew Garner, Finance Director of Romulus, said:
“We are very pleased to have agreed this new long-term facility with Aviva Investors, which recognises Romulus’s creative ability to add significant further value to our investment holdings.”