London & Regional Properties (L+R), the long-established client of Reed Smith, has been advised on the refinancing of its Atlas Hotel portfolio.

The portfolio consists of approximately 50 hotels, with Atlas being purchased from the global property business for circa £575 million in 2016. This acquisition marked the first budget addition to L+R’s existing portfolio of luxury hotels, which comprised of 6,600 rooms across Europe and the Caribbean.

Jimmy Theodoru, vice-chair of the firm’s Real Estate Group, led the refinancing out of London in collaboration with real estate finance partner Fran Sepúlveda.

Having guided the initial acquisition, the team acted continuously to achieve refinancing as a priority for L+R.

Theodoru commented: “We are delighted to continue to advise this valued client in relation to the management of this strategically important part of their property portfolio.”