LAP refinances industrial and retail portfolio

Industrial Workers

Source: Pixabay

London & Associated Properties (LAP) has refinanced an industrial and retail property portfolio with a new five-year £13.6m loan from Qatari bank QIB.

The lending replaces a 25-year £10m Aviva debenture at 8.1% that expired this month and a £3.5m Metro Bank loan at LIBOR plus 295 basis points that was due to expire in 2028.

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