Stephenson Harwood acts as lead legal advisor to LXi REIT on £773 million refinancing

Law firm Stephenson Harwood LLP has acted as the lead legal advisor to LXi REIT plc on its recent £773 million debt refinancing. LXi REIT is a specialist inflation-protected long income real estate investment trust, which is listed on the FTSE 250. Its property portfolio consists of properties across a wide range of sectors, including: leisure, healthcare, hotels, food stores, industrial and education. LXi REIT’s refinancing comprised three elements: a £565 million facility with a syndicate of lenders; a £148 million loan with insurer Canada Life; and the extension of its current £60 million loan with HSBC. Stephenson Harwood was the lead legal advisor across all aspects of this transaction, including debt finance, real estate, corporate and tax. The team worked on the new borrowings, redemptions and group restructuring, as well as providing and overseeing the real estate due diligence on the circa 200 property portfolio. The Stephenson Harwood team was led by finance partner Daniel Margolis and real estate partner Simon Brading, who were supported by finance managing associate David Harris and associates Tom Driscoll, Adam Hardy and Priya Dasani and real estate consultant Stewart Scott and associates Gideon Caplin and Anna Prebble. Partner William Saunders and corporate managing
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