In brief: Aviva adds to sustainable real assets loan book

A £57m facility for Urban Logistics REIT requires the borrower to improve sustainability across its portfolio.

Aviva Investors has provided £57 million ($72 million; €66 million) in loans to real estate investment trust Urban Logistics, including a commitment from the borrower to “undertake sustainability improvements across the 10 assets being lent against, as well as 23 additional properties from previous tranches of financing that were not sustainability-linked.” Press release here.

In doing so, the lender says it has now brought its entire lending book with Urban Logistics into alignment with its “Sustainable Transition Loans Framework”, as well as Urban Logistics’ own ESG targets. Aviva’s framework requires its loans to carry specific sustainability requirements related to emissions reductions, the firm said at the time of the framework’s launch.