London—Dentons is pleased to have advised Metro Bank on providing £22 million in funding to real estate investment company Aprirose for its acquisition of a portfolio of 73 pubs from Mitchells & Butlers.

The pub portfolio purchased by Aprirose using the debt facility from Metro Bank includes 65 freehold and eight leasehold pubs across England, Scotland and Wales. The pubs will operate under a new pub company banner, Milton Pubs and Taverns, and will be managed by pub operator LT Management Services.

Hospitality and Leisure partner Simon Masri who advised on the deal, said, "We are delighted to have worked with Metro Bank in financing Aprirose's substantial investment into the pub sector, adding to their £1.2 billion real estate portfolio."

Dentons Banking and Finance partner Lee Federman, added, "This was a quick turnaround deal with complex funding arrangements put in place in a very short period of time. Dentons is extremely well placed to provide support to lenders who are financing acquisitions and other business growth activities in the hospitality sector and beyond."

Simon Masri and Lee Federman were assisted on the deal by Real Estate associates Andrew McGrath, Chris Carlisle, Carla Revelo and Charlotte Mee, Banking and Finance associates Nicola Balmer and Rob McClean, and trainee Amy Morin.

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