Aviva Investors announced on Wednesday that it has completed provision of a £38.5 mln (€42 mln) refinancing facility to Grammont Group, a family-run property investment and development business operating in the UK industrial and residential sectors.

Gregor Bamert, head of Real Estate Debt at Aviva Investors

Gregor Bamert, Head of Real Estate Debt at Aviva Investors

The five-year interest-only loan has been provided at a fixed rate on behalf of external client mandates managed by Aviva Investors.

It will be used by Grammont to refinance its commercial property portfolio, a collection of assets comprising 77 light industrial assets across the UK multi-let to over 100 tenants, including a number of ground rent positions.

Gregor Bamert, head of Real Estate Debt at Aviva Investors, said: ‘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.’

The transaction was introduced by Capra’s debt advisory team.