LMA documentation commentary

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.

Note that the LMA has updated its REF documentation to reflect LIBOR transition (see Practice Note: LIBOR transition [Archived]). However, some LIBOR based documentation remains on the LMA website for historic reference purposes. LIBOR based term sheets and facilities agreements should no longer be used and therefore this overview refers to the risk-free rate versions of the relevant LMA documentation unless noted otherwise.

The LMA REF term sheets

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.

Term

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