UK industrial and logistics REIT Urban Logistics has secured a new loan facility.
Urban Logistics entered into a £48 million loan facility with Aviva Investors. This is in addition to the £151 million loan facility with Barclays, Santander and Lloyds which was secured in August 2020.
Urban Logistics had entered into a £151 million loan facility with Barclays, Santander and Lloyds, to replace the existing loan facility totalling £76 million, which was due to expire in 2022.
Urban Logistics said this new facility provides a 7-year term and comes at a fixed cost of 2.34%.