Aviva Investors has agreed a £54.2m loan facility to Ediston Property Investment Company to finance the acquisition of a retail warehouse park portfolio.
The 10-year facility will fund the purchase of four retail warehouse parks in Prestatyn, Widnes, Hull and Barnsley from Stadium Group.
The portfolio has more than 540,000 sq ft of space, generating rents of more than £8.8m per annum.
This marks the latest deal between Ediston and Aviva, which has provided the company with £111m of facilities.
Gregor Bamert, head of real estate finance at Aviva Investors, said: “These are well located assets with strong defensive characteristics that provide significant comfort in a dynamic retail environment particularly when coupled with the hands-on management approach of the Ediston team.”
To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @ktomusk or @estatesgazette
