L&G has refinanced its Industrial Property Investment Fund (IPIF) through a newly agreed £400 million ($536 million) revolving credit facility (RCF), increasing funding capacity from its previous £350 million ($469 million) facility, with the ability to extend the facility to £500 million ($670 million) subject to lender support. The funding will be provided by a syndicate of lenders — including Lloyds Bank, RBS International and Banco Santander — with the termination date of its facility extended from 2025 to 2028.
L&G’s Industrial Property Investment Fund, valued at £3 billion ($4 billion) in gross asset value, specializes in a diversified selection of multi-let industrial assets, primarily in London and the Southeast of England to satisfy areas of high occupier demand. Since its conception in 1997, the fund has demonstrated consistent momentum, having outperformed its benchmark for 25 out of the past 27 years. Strong structural growth drivers in the urban
