Select your client type BE, English About Responsibility Capabilities Views Contact Search English About us Company news Aviva Investors provides £48 million of sustainability-linked financing to Urban Logistics Reit plc 16 March 2021 1 minute read (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has completed a £48 million financing facility to subsidiaries of Urban Logistics REIT plc. Urban Logistics REIT will use the loan proceeds to refinance its recent acquisition of a portfolio of 14 logistics assets in various locations across the UK, totalling 1.1 million sq ft. The seven-year interest only facility, provided at a fixed rate of 2.34% p.a., has been made on behalf of both internal and external client mandates managed by Aviva Investors, including the Aviva UK Life Annuity business. The transaction includes a commitment from Urban Logistics REIT to work towards an agreed set of sustainability transition criteria, which will see it benefit from margin reductions upon meeting these targets across the loan assets. It follows the launch of Aviva Investors’ Sustainability-linked Loans framework in December as part of its commitment to originating £1 billion in sustainable transition real estate debt over the next four years. Gregor Bamert, Head of Real Estate Debt at Aviva Investors, said: “We are delighted to begin a lending relationship with Urban Logistics REIT, supporting its strategy to diversify – and extend – its debt profile. The urban logistics sector is underpinned by strong fundamentals and the sponsor’s specialist focus and active management, coupled with a modest leverage requirement, make this a compelling long-term proposition for our investor clients. We are also pleased to see a commitment from the business to enhancing the green credentials of its assets, as we continue to decarbonise our investment portfolio and support the UK’s wider climate transition programme.” Christopher Turner, Executive Director at Urban Logistics REIT, said: “We are delighted to have agreed a new debt facility with Aviva and we hope this relationship will continue to grow as we maintain our focus on building a unique platform of UK single let last touch logistics assets. The sustainable element is entirely in line with our drive towards adding ESG to the front of our investment policies. This new loan incorporates a £150m accordion element which will enable us to grow and strengthen this relationship” For more information contact: James Morgan Media Relations Manager Phone +44 20 7809 6745 Email james.morgan@avivainvestors.com Steve Ainger Head of Media Relations Phone +44 20 7809 8452 Email steve.ainger@avivainvestors.com Important information The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 10 March 2021. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ Authorised and regulated by the Financial Conduct Authority. Aviva Investors Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. 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