Supermarket REIT secures new £215m JV loan

(Sharecast News) - Supermarket Income REIT said it had completed a new £215m loan for its joint venture with funds managed by Blue Owl Capital. The interest-only facility has a maturity of three years, with two further one-year extension options at the lenders' discretion and is priced at a margin of 1.5% above the sterling overnight average index and the joint venture intends to hedge the drawn amount for the three-year initial term, the company said on Tuesday.

The company will receive 50% of the proceeds from the facility, which will initially be used to repay drawings under existing debt facilities, prior to redeployment.