Aviva has provided South African investor Natie Kirsh with £145 million to help fund his £282.5 million purchase of the Tower 42 Estate.
The senior loan has been provided by Aviva Commercial Finance on a fixed-rate basis secured for 20 years, CoStar News reported. The estate totals a 2.2-acre freehold site delivering nearly 900,000 sq ft gross, while Tower 42 itself is 320,000 sq ft. The City offices
here are 95 per cent let.
It used to be called the NatWest Tower as it was originally built to house the bank's offices. Other financial institutions that have space nearby include HBOS, Deutsche Bank, UBS, Royal Bank of Scotland and Commerzbank.
Other parties said to have considered funding the purchase of Tower 42 included Deutsche Pfandbriefbank, BNP Paribas and BAWAG.
CoStar News reported Mr Kirsh as saying he was "thrilled that Aviva have provided about 50 per cent of the money on a 20-year facility which supports our long-term investment philosophy as we grow our international property portfolio".
Posted by Sarah Dudley
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