RDI REIT, a UK-based real estate investment trust, has completed the second and final stage of a £75 million refinancing deal for its London serviced office portfolio.
RDI, which owns properties in the UK and Germany, has refinanced two existing loans that were due to mature in December 2019 and August 2022. The facility has been provided by Aberdeen Standard Investments for a seven-year term.
The four offices are based in Central London and have a current occupancy rate of 94.5%.
Stephen Oakenfull, deputy chief executive of RDI, said: “We are very pleased to have concluded this refinancing with Aberdeen Standard Investments and to have established a new funding relationship for the Group.
“This refinancing has allowed for the proactive extension of our debt maturity whilst providing us with greater operational flexibility.”