Macfarlanes has advised LaSalle Residential Finance fund on a £50m loan to refinance and redevelop the University Arms Hotel in Cambridge.

LaSalle Investment Management were the investment adviser to the fund.

Historically focusing on the development of London residential and UK student accommodation, this is the fund’s first financing in the hotel sector.

The Macfarlanes team was led by head of the real estate finance group Colin Morgan.  Real Estate partner Clare Breeze led the property aspects of the transaction.

Colin Morgan comments: “This is an important transaction for both Macfarlanes and LaSalle Residential Finance Fund - it is our first deal for this fund and it is the fund’s first hotel investment.  As such we were delighted to have been involved.”