A team from Ogier's Jersey office has advised Realstar Group, the Canadian real estate investment and management company, on the £600 million sale of a majority stake in a UK rental housing portfolio to QuadReal Property Group, investing on behalf of the British Columbia Investment Management Corporation.
"Having been involved in the acquisition and development of various properties in the portfolio, it's exciting to see the rental housing sector grow and thrive and the real success of the UNCLE brand." said Ogier partner Richard Daggett.
The portfolio comprises eight build-to-rent and student accommodation properties located in London and Manchester, some of which are managed under Realstar's UNCLE brand. Realstar will continue to manage the portfolio under joint venture arrangements with QuadReal.
The Ogier team, which advised on both corporate and financing elements of the transaction, was led by partner Richard Daggett, assisted by senior associate Amy Garrod and associates Alex Fisher and Marcela Tudose. Ogier worked closely alongside lead English counsel Macfarlanes in relation to the transaction.
"It has been a pleasure to assist our long-standing client Realstar on such a significant transaction," Richard said. "We wish Realstar and QuadReal every success as they continue their partnership."