Aviva investors provides £39.9 million refinancing for portfolio of seventeen industrial assets

9 February 2021 1 minute read

London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced it has completed a £39.9 million senior debt facility with London & Cambridge Properties (‘LCP’), a sponsor focused on industrial warehouse and convenience retail space throughout the UK and Europe.

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The facility, which is provided for a 10-year term on a fixed-rate basis, refinances an existing £29.9m facility and is being made on behalf of the Aviva UK Life Annuity business.

The security consists of a highly-diversified collection of 17 light industrial assets across southern England and the Midlands, let to over 90 tenants and which carry a weighted average unexpired lease term (WAULT) of approximately 3.75 years.

Gregor Bamert, Head of Real Estate Debt at Aviva Investors, said:

“We are glad to be extending our existing long-term relationship with LCP, which has demonstrated strong asset management credentials over the last 20 years, in both the UK and Europe. We like its active management of tenant relationships and investment in the portfolio, which has allowed the business to maintain a high-quality offer. This is a further example of our firm commitment to the lending market, where we believe opportunities still exist which can deliver long-term value to our investor clients.”

Chris Tranter, Group Finance Director at LCP, added:

“LCP is pleased to have completed the extension and re-gear of this facility with Aviva Investors. Many thanks to the team at Aviva for their efforts in helping the deal to be completed in a smooth and timely manner. The transaction further reinforces the strong, long-term relationship between LCP and Aviva Investors and we look forward to the continued support for the progression of our business.”

For more information contact:

James Morgan

Media Relations Manager

Steve Ainger

Head of Media Relations

Important Information:

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 18 January 2021. 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 £346 billion in assets as at 30 June 2019.

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 manages over £346 billion in assets (as at 31 December 2019). Total group assets under management at Aviva group are £501 billion (as at 31 December 2019).

Aviva helps people save for the future and manage the risks of everyday life; last year we paid £32.9 billion in claims and benefits on behalf of our 33 million customers.

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