Macfarlanes has taken the lead role on a £664m finance deal, advising Dunedin Property Industrial Fund on the refinancing and securitisation of three of its commercial property portfolios.

The deal, funded as part of Royal Bank of Scotland's (RBS) commercial mortgage-backed securities programme, took place last month and saw Macfarlanes finance partner Orla MacSherry lead the team. She was assisted by corporate partner Mark Baldwin and property partner Christopher Field.

MacSherry said: "Dunedin has been our client for many years, although the company has been most active over the last five to 10 years. This is the biggest deal in terms of finance that we have ever done for the fund."