London—Dentons has advised Lloyds Bank plc on £291 million of real estate finance investment facilities to property investment group, Lazari Investments. The facilities were made available to a special purpose vehicle within the Lazari Investments group of companies.

Dentons acted for Lloyds Bank plc as agent, arranger, coordinator, lender, original hedge counterparty and security agent, with RBS and MetLife as co-lenders. The facilities were used to finance the acquisition of four London properties (valued at circa £550 million) and finance development works at Greater London House. Greater London House is home to online retail company ASOS, which recently contracted to take on an additional 40,000 sq ft of new space, which will be delivered as part of a £40 million refurbishment.

This latest financing follows on from another recent Lazari Investments transaction in which Dentons acted for Lloyds Bank plc and Scottish Widows Limited, where the bank acted as arranger and agent on a circa £118 million investment facility with Scottish Widows Limited as lender.

Commenting on the deals, Dentons Banking and Finance partner James Irvine said, "We are delighted to have advised our key client Lloyds Bank plc on both transactions with the Lazari Investments group and assisted all the lenders in the process – a great way to end the year and start 2017."

The Dentons team was led by Banking and Finance partner James Irvine and Real Estate partner Simon Masri, with additional support from Banking and Finance senior associate James Ingham and associates David Jonesand Alistair Stoddart, Construction managing associate Jane Miles and senior associate Tasmyn Brittlebank, Real Estate managing associate Chris Foxall and associates Laura Gowing, Charlotte Mee, and Chris Carlisle.

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