Scottish Widows and Aviva Investors Real Estate Finance have agreed a £165m secured 10-year facility with Regional REIT.
It replaces five existing secured debt facilities, reducing group debt facilities from nine to five, while increasing maturity to 6.2 years from 2.5 years.
The fixed rate will be set on the date of drawdown and predicted to be 330 bps to 340 bps.
It was arranged by Bank of Scotland and the refinancing follows a £52.4m five-year facility agreed with Santander UK.
Stephen Inglis, chief executive of London & Scottish Investments said: “This refinancing simplifies our balance sheet, lengthens the average maturity of our debt, and better aligns our financing arrangements to our real estate strategy.”
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