LXi REIT has renegotiated the terms of three loans in a move that the finance boss of its fund manager said will free up £2m in cash flow.
The company has reduced the interest rate and extended the maturity date across three 10-year loans totalling £170m with Scottish Widows.
The all-in interest rate on the loans has been reduced to 2.85% from 2.94%, which the company said will save it £2m over the extended loan term of 13 years.
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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
