Lazari Investments has secured a £235m loan from Aviva Investors, secured against a portfolio of prime London offices.
The five-year facility will refinance Lazari’s existing debt agreements and to further its capital expenditure across its portfolio.
Lazari Investments’ relationship with Aviva Investors dates back more than 35 years.
Director Nicholas Lazari said Aviva Investors has been a “strong supporter and lender to our business for many years and has been an integral part of our growth, and we are proud of our long-term relationship with them.
“As well as refinancing part of our debt, the transaction shows our commitment to a continued investment in both our Aviva-charged property assets and the wider Lazari portfolio.
“We are now well progressed on our path to having a mature portfolio full of best-in-class and super- prime assets, underpinned by outstanding sustainability matrixes.”
Gregor Bamert, head of real estate debt at Aviva Investors, added: “We are very pleased to complete this refinancing agreement and to expand our decades-long relationship with Lazari Investments, a very high-quality sponsor with a portfolio of outstanding prime central London assets.
“This agreement reflects a significant uptick in occupational and investor interest in the prime London office market and is a sector we expect to be a key focus of our strategy going through 2026 and beyond.”
Last month, Aviva signed a 31,500 sq ft pre-let with Sona Asset Management at its flagship Pegasus office development in Mayfair.
In January, the eighth edition of Aviva Investors’ Private Markets Study highlighted that 30% of corporate defined contribution pension funds expect real estate debt to be the “private debt sub-asset class with the most attractive risk-adjusted returns over the next two years”.
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