Aviva Investors has refinanced a £75m facility to Primary Health Properties plc (“PHP”).
The new facility is secured against 31 modern purpose-built medical centres and matures in November 2028. The portfolio provides 37,400m2 accommodation let to NHS and pharmacy tenants.
Gregor Bamert, Head of Real Estate Finance, Aviva Investors, said:
“PHP is a leading investor in this specialist sector and we are delighted to extend our longstanding partnership. We are proud that we remain PHP’s largest individual lender with a total of £236m of secured debt facilities.”
Harry Hyman, Managing Director of PHP, added:
“This demonstrates our continued ability to secure long-term funding from a variety of sources. We will use the funds to progress our long term strategy of growing PHP's portfolio through the acquisition of well-priced, modern primary healthcare assets that will provide strong income returns and the potential for asset growth whilst maintaining a prudent level of gearing.”