Aviva Investors provides additional €66m in sustainable loans to Urban Logistics REIT
Aviva Investors, the global asset management business of Aviva plc, announced it has provided an additional £57 million (€66 million/$72 million) in sustainable transition financing to Urban Logistics REIT.
The new loan, a nine-year facility, is secured against a portfolio of 10 logistics assets across the United Kingdom which together total more than 900,000 square feet of space. It is the fifth such financing made since the two businesses established a lending relationship in March 2021.
The loan also includes a commitment from Urban Logistics REIT to undertake sustainability improvements across the 10 assets being lent against, as well as 23 additional properties from previous tranches of financing that were not sustainability-linked. As a result, the entire lending program between the two businesses is now aligned with Aviva Investors’ Sustainable Transition Loans framework, as well as Urban Logistics’ own ESG targets.
Launched in 2020