Aviva Investors announced on Wednesday that it has completed provision of a £38.5 mln (€42 mln) refinancing facility to Grammont Group, a family-run property investment and development business operating in the UK industrial and residential sectors.
The five-year interest-only loan has been provided at a fixed rate on behalf of external client mandates managed by Aviva Investors.
It will be used by Grammont to refinance its commercial property portfolio, a collection of assets comprising 77 light industrial assets across the UK multi-let to over 100 tenants, including a number of ground rent positions.
Gregor Bamert, head of Real Estate Debt at Aviva Investors, said: ‘Grammont Group has demonstrated strong asset management credentials in a fundamentally sound sector, and we are very happy to start a lending relationship with the business, whilst also providing a break optionality tailored to Grammont’s business strategy. This is further example of our firm commitment to the lending market, where we believe opportunities still exist to deliver long-term value to our investor clients.’
The transaction was introduced by Capra’s debt advisory team.
