Macfarlanes has advised on its first deal for Legal & General’s lending arm, LGIM Commercial Lending Limited on a £37.5m, 10 year loan, secured against Hilton London Heathrow Airport Terminal 5 hotel.

The deal is the first hotel lending transaction completed by LGIM Commercial Lending Limited. Located just one mile from Terminal 5 and within easy access of the M25, the 350-bed hotel is operated by the borrower with a franchise agreement with Hilton.

The Macfarlanes team was led by real estate finance partner Colin Morgan, supported by senior counsel Kirstie Hutchinson.  Real estate partner Clare Breeze led the property aspects of this transaction.

Colin Morgan, head of the real estate finance group at Macfarlanes, said: “We are thrilled to have closed not only our first transaction for LGIM Commercial Lending but also to have been their advisor on their first hotel financing transaction.  LGIM Commercial Lending are already very active in a broad range of property sectors and so we are excited to be part of their growth into this new area.”