L&G completes £220 million Loan to Secure Income REIT

Posted on 9 September, 2015 by Kirsten Kennedy

Legal & General has today announced that its property lending arm CLL has agreed to a £220 million, 10 year loan to Secure Income REIT. The agreement is L&G’s first transaction arranged for a third party client alongside its annuity fund.

L-G-completes-220-million-Loan-to-Secure-Income-REIT

The specialist long term income REIT has secured the financing against a portfolio of nine UK private hospitals, which at present are let to the Ramsay Group.

This deal means that almost £1.5 billion worth of funds have now been lent by L&G across 16 deals, with the healthcare sector joining others in which loans have already been agreed such as social housing, student accommodation, hotels and care homes, along with mainstream asset classes.

Commenting on the agreement, Lending Manager at L&G, Steve Boyle,said: “We are delighted to form part of what was a large refinancing project with Secure Income REIT plc, particularly as it has enabled Legal & General to continue to expand its role in supporting the UK’s social infrastructure.”

CLL is part of the Real Assets division of Legal & General Investment Management (LGIM) which also includes Legal & General Property (LGP) which manages or co-manages 17 separate institutional funds with assets valued at £16.9 billion.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants