Aviva writes £145m across two loans in London

Lazari Investments secures the debt facilities to back an office block acquisition and a refinancing in the capital.

Aviva Investors has completed two commercial real estate finance transactions to Lazari Investments totalling £145 million (€163 million).

The insurer has written a £90 million fixed-rate facility over 10 years to support the acquisition of a prime central London office block on Baker Street. The second transaction is a £55 million, 12-year fixed-rate facility, refinancing a 2018 loan maturity against Henrietta House, the Marylebone headquarters of CBRE.

“Aviva Investors is one of the Lazari group’s principal lenders, providing us with ‘bespoke’ borrowing facilities,” said Nicholas Lazari, director at Lazari Investments.

“We particularly value the ability to fix the cost of our medium- to long-term loan lending at what we perceive to be competitive rates, helping safeguard our business moving forward,” he added.

In January, Lazari Investments secured a £409 million financing package arranged by Lloyds Bank Commercial Real Estate to refinance six central London properties.

For its part, Aviva’s core market remains the UK. In December, the insurer provided a 10-year, £54.16 million loan at a fixed all-in rate of 2.73 percent to refinance the acquisition of four retail warehouse parks by UK REIT Ediston Property Investment Company (EPIC).

Last month, Aviva wrote a £144 million seven-year facility to refinance a UK multi-sector portfolio owned by Aquila. The UK property investor has also secured a £16 million mezzanine facility from PGIM Real Estate.