Le mie ricette per la real estate communityAviva Investors, the global asset management business of Aviva plc , announces that it has provided CLS Holdings plc with a £154 million senior debt facility towards the refinancing of 12 UK assets.
The financing, which is provided over 10 and 12-year fixed-rate tranches, is being made on behalf of a combination of the Aviva UK Life Annuity business and third-party client mandates.
Located across London and the South East of England, the portfolio consists of 11 office assets alongside a mixed-use scheme in Vauxhall, including hotel and student accommodation assets. The assets are let to a broad mix of tenants with income well diversified across the portfolio and carry a weighted average unexpired lease term (WAULT) of 5.2 years.
The facility is structured to include KPIs that are linked to sustainability targets, and which have been independently reviewed to provide assurance that they are aligned with LMA sustainability-linked loan principles. A margin reduction of up to 10 basis points is available dependent on CLS delivering specific targets which will be assessed annually throughout the life of the facility.
Source : Aviva Investors