Aviva Investors has provided MedicX Fund with a 拢264.5m (鈧�297.3m) refinancing loan.
The 拢347bn assets under management arm of the insurer Aviva said it has provided a new 15-year facility to MedicX. The new facility refinances existing loans and increases the total debt by 拢30.8m, is secured against 90 modern purpose-built medical centres.
Gregor Bamert, the head of real estate finance, Aviva Investors, said: 鈥淲e are very pleased to have supported MedicX since its formation in 2006 and this transaction shows our ongoing commitment as its largest debt partner.鈥�
Helen Mahy, the chairman of MedicX, said: 鈥淲e are delighted to have agreed a refinancing with our long-term funding partner, Aviva Investors.
鈥淭he new arrangements will improve operational efficiency and free up property collateral, enabling MedicX to undertake identified asset management projects and negotiate new facilities at competitive rates, which should reduce MedicX鈥檚 average cost of debt.鈥�
