Shaftesbury to receive funds from JV

published 6 January 2012

Longmartin Properties, a 50/50 joint venture between real estate investment trust Shaftesbury and the Mercers' Company, has tapped up Aviva Commercial Finance for a 15-year loan.

The facility is for £120m and is at a fixed rate of interest of 4.43%. Longmartin will remit the proceeds of the loan after expenses to its shareholders through the repayment of loans and share capital.

More to follow ...