Aviva Investors Real Estate Finance (formerly Aviva Commercial Finance) has announced completion on a £120m 20 year loan to a subsidiary of Shaftesbury PLC.
Together with an earlier loan completed in March, this takes the total lending to the company to £250m in 2015. This is secured against prime retail, office, restaurant and residential space within Shaftesbury’s Carnaby estate.
Barry Fowler, Managing Director of Real Estate Finance at Aviva Investors, said:
“We are delighted to further strengthen our relationship with Shaftesbury, which has a great pedigree and proven track record of actively managing these iconic assets.
“This loan demonstrates our continued ability to deliver big-ticket long-term loans to investors who see the benefit of fixing interest rates at this point in the cycle.”
Chris Ward, Finance Director, Shaftesbury PLC said:
“We are pleased to have secured this financing with a lender of the calibre of Aviva Investors.
“Long term funding is a natural fit with our business model and portfolio of good quality assets with secure income streams.”