MOURANT ADVISES ON LANDMARK UK RESIDENTIAL REAL ESTATE DEAL

We have recently advised Border to Coast Pensions Partnership, on behalf of its Partner Funds, on a £400 million UK residential real estate deal to purchase 866 single-family homes.

The 12-estate family home portfolio will be acquired from Leaf Living, a leading provider of single-family homes in the UK, founded by Blackstone and Regis.

The deal marks the largest single transaction in the single-family home sector in the UK this year to date. The investment will provide Partner Funds with exposure to high-quality family rental homes, supported by long-term demand for housing across the UK.

Mourant advised on the Jersey legal as well as the Jersey and UK governance services aspects of the deal. Our Jersey Head of Investment Funds, Joel Hernandez, led on the Jersey legal aspects of the transaction, working in collaboration with CMS and Aberdeen Investments.

Andy McNulty led on the governance services elements of the deal, supported by many others from Mourant’s Jersey and UK governance teams.

Border to Coast Pensions Partnership is one of the largest pension pools in the UK. This latest acquisition continues the rapid growth of the pool’s UK Real Estate Fund following launch 18 months ago. The Real Estate Fund has more than £2 billion in Local Government Pensions Scheme Partner Fund capital and assets.