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22 April 2020

Macfarlanes advises Constellation Hotels on £340m long-term facility to refinance The Connaught and The Berkeley hotels

Macfarlanes has advised Constellation Hotels, the owner of two of London’s most prominent five-star hotels, The Connaught and The Berkeley, on a £340m, 10-year facility to refinance an existing facility. The hotels are managed by the Maybourne Hotel Group.

The loan, which was arranged by Citigroup Inc., was provided by a consortium of lenders including a German pfandbrief bank, a UK investment manager and a UK-based debt fund.

The Macfarlanes team was led by real estate finance partner Colin Morgan alongside senior counsel Laura Bretherton and solicitor Christine Dowdall. Advice on real estate aspects was provided by partner Tom Pedder and senior solicitor Kirsty Childs and construction advice was provided by senior solicitor Alex Crockford. Commercial advice was provided by partner Will Hedges and solicitor Jonathan Morgan. Tax advice was provided by senior counsel Kirsten Prichard Jones and solicitor Mark Petch and corporate advice was provided partner Howard Corney and solicitor Patrick O’Connor.

Colin Morgan comments: “We are delighted to have advised Constellation Hotels on the refinancing of these two iconic hotels particularly given the challenges presented by the current environment. Constellation Hotels has been a client of the firm for many years so we were proud to support them through this successful refinancing process at this time”.

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