Two banks refinance Aviva fund in Europe

Deutsche Pfandbriefbank and Unicredit Bank Austria have provided a €148m senior loan for Aviva Investors to refinance a 12-asset central and eastern European property portfolio.

Aviva’s Central European Property Fund owns six offices in Warsaw, Katowice and Prague;  four logistics assets; and two retail properties, all of which are well-leased, mainly to international tenants. The deal was closed in early June, with Deutsche Pfandbrief-bank acting as agent. The underwriting was split equally between the two banks.