Lovells has won its first deal for private equity client Moor Park Real Estate, advising the fund on the E863m (£587m) sale and leaseback of 91 Accor hotels in Europe.

The firm was instructed by Moor Park several weeks ago with Accor announcing it had agreed to sell the properties last week (5 March).

Lovells won the instruction through its relationship with Nomura. The real estate fund's adviser, Moor Park Capital Partners, was set up by three ex-Nomura partners.

The deal saw French hotel group Accor sell 72 hotels in Germany and 19 in The Netherlands to the Moor Park fund. Accor will continue to operate the hotels under 12-year variable rent leases.

Lovells fielded a team from London, Paris, Germany and Amsterdam, led by City finance partners Andrew Carey and David Hudd. The cross-border team provided corporate, real estate and finance advice.

Hudd said: "It is a real estate fund advised by a team formerly at Nomura, so we know them from there. This sort of fund is increasingly doing deals and this is the second that Moor Park has done since it was set up in the summer."

Mishcon de Reya partners Nick Doffman (real estate) and Ross Bryson (corporate) advised Moor Park Capital Partners.

Accor, meanwhile, instructed Stibbe and CMS Hasche Sigle with much of the work coordinated in house.

Last month Moor Park Real Estate completed its acquisition of German retail portfolio Max Bahr for around E1bn (£679m) on that deal Moor Park instructing US firm Kirkland & Ellis in Munich with London partner John Markland advising on the financing aspects.

The Accor deal value includes a E43m (£29m) renovation programme. The hotel company is trying to reduce risk and focus on operating the hotels. It has more than 4,000 hotels with 475,000 rooms in 90 countries including brands such as Sofitel, Novotel, Ibis and Etap.