Aviva has agreed to give the owner of four regional shopping centres more time to fix a breached loan covenant after a takeover approach for the landlord was abandoned.
The FTSE 100 lender has given RDI REIT, the shopping centre owner, until October to either sell the centres or restructure the debt facility.
The £144.7m outstanding loan, which runs until 2042, relates to shopping centres in Wigan, Northampton, Warrington and Seaham, Co Durham.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
