DLA Piper advises Aviva Investors on GBP235 million refinancing with Lazari Investments

DLA Piper has advised Aviva Investors, the global asset management business of Aviva plc, on the completion of a refinancing worth GBP235 million with Lazari Investments, secured against the latter’s portfolio of prime central London offices.

The funding will be used by Lazari Investments to refinance existing facility agreements and capital expenditure across its portfolio.

Aviva Investors is the global asset management business of Aviva plc operating in nine countries in Asia Pacific, Europe, North America and the United Kingdom with GBP246 billion in assets under management.

A multidisciplinary DLA Piper team worked on the transaction led by London-based Finance partner Toby Barker. He was supported by legal director Natalie Thorn, senior associate Robert Spencer, associate Ben Lumley, and trainee solicitor Joanna Kass.

Toby Barker, partner, commented: “This deal demonstrates continued institutional confidence in the London office market as markets adjust to the evolving economic conditions in 2026. We have supported Aviva Investors with their long-standing relationship in lending to Lazari Investments for several years and have seen the London portfolio securing this facility grow and mature. We look forward to more opportunities to work with Aviva Investors in the future”.

DLA Piper’s International Finance practice advised clients on real estate financing packages worth over EUR3.3 billion, with other transactions including:

• Advising Aareal Bank on:
  • The EUR567 million refinancing of seven hotels in Europe including the Hilton Schiphol Airport, Renaissance La Défense Paris and Conrad Dublin;
  • The provision of financing worth EUR285 million to Star Capital Finance for the purchase of a portfolio of six shopping centres in Poland; and
  • A GBP275 million loan facility against three Hilton Hotels.
• Supporting a syndicate of financial institutions coordinated by BBVA, CaixaBank and Banco de Sabadell on the granting of EUR400 million of financing to Minor Hotels Europe & Americas, S.A.
• Assisting Erste Group Bank AG, Erste Bank a.d. Novi Sad (Serbia), and UniCredit Bank Serbia a.d. on the EUR225 million refinancing of the retail portfolio owned by Atterbury, a group of South African investors, and MPC Properties, a leading Serbian real estate developer.
• Advising PKO Bank Polski and ING Polska on the PLN770 million refinancing of Student Depot.
• Supporting Astra Partners on receiving EUR340 million to fund the development of an Irish datacentre.
• Guiding Melia Hotels International, S.A on securing a EUR800 million facility from a banking syndicate.
• Advising Coima SGR on the EUR220 million financing of a landmark property in Milan.