DLA Piper advises Cornerstone Real Estate Advisers on £150m refinancing

DLA Piper and Nabarro have acted on a £150m senior debt portfolio financing by Cornerstone Real Estate Advisers with investor and developer UK & European Investments. The portfolio consists of six properties in central London and the south east. 

Cornerstone is a subsidiary of US insurance company Mass Mutual. The £150m loan comprises nine- and 11-year mixed maturity facilities. The transaction represents the second loan facility that Cornerstone has made into the UK.

DLA Piper acted for Cornerstone on this transaction, having also acted for Cornerstone on setting up its European lending platform and on its maiden £83m loan to Derwent London in August last year.

The DLA Piper team was led by Toby Barker, head of real-estate finance, and included Helen Dyer, Chris Chan and Victoria Walkden. Partner Richard Crossfield and senior associate Rachel Orton advised on real-estate aspects.