Fladgate LLP has advised the trustees on the £49.4 million refinancing of a fund structure, holding a portfolio of 13 hotels. The portfolio is let to Accor and the hotel properties are based throughout England. Funding was provided by Barclays Real Estate Finance and LaSalle UK Special Situations Fund.
Fladgate investment fund partners, Ella Leonard and Philip Turner, advised the trustees along with real estate finance partner, Gary Smith.
The transaction was carried out under a very restrictive timetable and involved careful negotiations with the outgoing lenders.
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