Macfarlanes has advised the Industrial Property Investment Fund, the largest industrial property fund in the UK, on a £350m refinancing deal. The fund is managed by Legal & General Property.
The lenders were RBS, Wells Fargo and L&G’s lending arm, LGIM Commercial Lending Limited. One of the most active investors in the UK industrial market, the Industrial Property Investment Fund recently grew the value of its assets under management to over £1bn. Replacing a £210m facility that was due to expire in September 2015, the new £350m facility is arranged over a six year term, supporting the Fund through its recently extended life span and providing it with significantly increased firepower with which to seek attractive market opportunities.
The Macfarlanes team was led by banking and finance partner Jat Bains with real estate partner Steven Pitchford.
