Regeneration company Urban Splash has secured £43.5 million debt facility from Aviva Investors.
The senior loan, an eight-year facility which consolidates existing finance, is secured against the company’s existing workspace commercial portfolio of 25 assets, which total 800,000 sq ft and are primarily located in Liverpool and Manchester.
The facility includes a commitment by Urban Splash to work towards sustainability improvements of the assets in the portfolio, as part of Aviva Investors’ Sustainable Transition Loans framework which has provided over £1 billion of sustainability-linked loans since its launch in December 2020.
Gregor Bamert, Head of Real Estate Debt at Aviva Investors, said: “We are very pleased to have started a lending relationship with Urban Splash and look forward to developing it further over time. The diverse property assets are well-designed, well-located and of high quality. Urban Splash manages an impressive range of commercial communities, and we are proud to support them as they continue to reduce the carbon footprint of the portfolio.”
Nathan Cornish, Director at Urban Splash, added: “We are absolutely delighted to complete this long-term deal with a funder of the stature of Aviva Investors within just six weeks. It is a great endorsement of the value of the Urban Splash brand, our commercial assets, our people – and the customers operating out of our buildings.”