Following publication on 19 July 2021, the LMA has today published a revised version of its Single Currency Term Facility Agreement for Real Estate Finance Multiproperty Investment Transactions with/without Observation Shift (the REF RFR Facility Agreement).

The LMA is pleased to have published a real estate finance facility agreement for investment property transactions to facilitate the syndicated loan market in transitioning away from the use of LIBOR to compounded risk-free rates ("RFRs").

An updated version of the Senior/Mezzanine Facility Agreement Drafting Guide for Real Estate Finance Transactions dated 20 March 2020 has been uploaded to include a full mark-up at Section 6 (Mezzanine Drafting).