Family-run property investor and developer Grammont Group has completed a £38.5m refinancing deal with Aviva Investors.
Aviva Investors has provided a five-year, interest-only loan at a fixed rate on behalf of external client mandates.
Grammont will use this to refinance its portfolio, comprising 77 light industrial properties in the UK. These are let to more than 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.
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