Grainger has refinanced £580m of its existing debt to extend maturity and reduce costs.
A syndicate of lenders including HSBC, RBS, Barclays, AIB and Nationwide building society arranged the deal.
The previous facility was due to expire in July 2016 and has been replaced with a new one that extends the loan out to August 2020.
In addition the new loan reduces the cost of debt by 50bps by arranging a margin of 170bps.
In total the residential investor and manager now has net debt of £1.1bn with an average maturity of around 5.8 years.
