Helical has secured a £124m facility with Aviva Investors to refinance assets in London and Manchester.
It will refinance The Loom, E1, and The Shepherd’s Building, W14, alongside Churchgate and Lee House in Manchester.
Funding for the loan was provided by three of Aviva Investors’ managed mandates with a mix of fixed and floating rate debt for the full term to December 2024.
It extends Helical and Aviva’s relationship to a portfolio of more than 500,000 sq ft, generating rents of more than £13m per annum.
Tim Murphy, finance director at Helical, said: “Aviva Investors has been a core provider of long-term debt to Helical since 2014 and I am delighted that we have increased the existing facility to £124m.
“The increased facility provides the long-term commitment and flexibility that we are looking for in our debt providers and its timing enables us to lock into current low finance rates.”
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