DLA Piper and Nabarro have acted on a £150 million 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 giant Mass Mutual. The £150 million 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 loan is in line with Cornerstone's strategy of extending its US commercial real estate platform into Europe and coincides with the appointment of former RBS banker Chris Bates as its new head of European head of real estate finance.

The DLA Piper team was led by Toby Barker, Head of Real Estate Finance, and included Helen Dyer, Chris Chan and Victoria Walkden (Finance). Partner Richard Crossfield and senior associate Rachel Orton advised on real estate aspects.

Toby Barker said: "We are delighted to have acted for Cornerstone on its second loan into the UK market. This is a great example of how DLA Piper is able to support its international client base, particular in real estate finance as inward investment into the UK debt market increases"

The Nabarros team was led by head of banking Clive Swillman and included Catrin Evans and Rob Whidett on the financial aspects, while Caroline Maude (partner in real estate) and Chris D'Emanuelle advised on real estate matters.