This overview is a guide to the Banking & Finance content within the Loan Market Association documentation commentary subtopic of the Real estate finance topic, with links to the appropriate materials.
The Loan Market Association (LMA) launched its first real estate finance (REF) specific documentation in April 2012. Since then, it has expanded its real estate finance documentation considerably and also has a dedicated microsite for participants in the real estate finance sector.
The LMA has produced two types of English law term sheets for real estate finance transactions—one for use in investment transactions and one for use in development transactions. Risk-free rate versions of both types are available on the LMA website.
The recommended form of Term Sheet for use in real estate finance investment transactions (the LMA REF Investment Term Sheet) is designed to be used on senior only financings, or on senior/mezzanine financings which use the LMA real estate finance intercreditor agreement (see below).
The LMA REF Investment Term Sheet is split into three sections and an appendix:
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