Aviva Investors has provided a £38.5 million refinancing facility, a five-year interest-only loan at a fixed rate on behalf of external client mandates, to Grammont Group (Grammont), a family-run property investment and development business operating in the UK industrial and residential sectors.
Grammont will use this facility to refinance its commercial property portfolio, comprising 77 light industrial assets across the UK.
“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,” said Gregor Bamert, Head of Real Estate Debt at Aviva Investors.
“We are very excited to have obtained this new loan from Aviva and about building a strong relationship with them as they support us in the next phase of our strategic growth plan,” said Nick Uzel, Managing Director at Grammont Group.
“We enjoyed working with Grammont Group on this refinance and are delighted we were able to structure a loan with Aviva that provided the borrower with the right blend of loan proceeds, pricing and management flexibility going forward,” added Luca Giangolini, Head of Debt Advisory at CAPRA.