Aviva Investors has provided £54.2m (€61.9m) financing to Ediston Property Investment Company for a portfolio acquisition.
Last month, Ediston said it has agreed with London listed peer Stadium Group to buy a portfolio of four retail warehouse parks for £144m. The acquisition will increase the size of the company’s existing portfolio to £318m.
The assets, which are in Prestatyn, Widnes, Hull and Barnsley, provide more than 540,000sqft of accommodation.
Aviva said today it has provided a £54.16m fixed-rate, 10-year facility to a subsidiary of Ediston to assist with the acquisition of the four UK retail warehouse parks. The transaction takes Aviva Investors facilities with Ediston to £111m.
Gregor Bamert, head of real estate finance at Aviva Investors, said: “We are delighted to once again be able to back Ediston in the continued growth of its portfolio.
William Hill, chairman of Ediston, said: “Given our existing relationship with Aviva Investors, they were our go to lender on a transaction that required working under a tight and rigid timetable of six weeks and various levels of pragmatism to make it happen.”