Macfarlanes has advised long-standing client Realstar on the sale of its residential operating platform in the UK and Ireland to its joint venture partner, QuadReal, together with the rights to its UNCLE brand in Europe and the UK (under which a significant proportion of the UK portfolio is operated).
QuadReal and Realstar formed their first joint venture in 2017, grew the partnership through asset acquisitions, and in 2021 QuadReal acquired a minority stake in Realstar’s UK operating company.
Ryan Prince will remain in post as CEO for a transitional period, following which he will take up the role of non-executive chairman.
The recent transaction does not impact Realstar’s other assets in the UK outside of the joint venture, nor does it influence Realstar’s operations in Canada or other international markets.
The Macfarlanes team was led by Real Estate Partner Dan Marriott, with Senior Consultant Robert Porter and Associate Jake Simons. Corporate and M&A advice was provided by Partner Justin Hope, Senior Associate Emma Bailey, and Associate Sonja Dragomir. Tax advice was provided by Senior Advisor Mark Baldwin, alongside Senior Associates Jack Slater and Beth Leggate. Private Funds advice was supplied by Partner Harriet Miller, Senior Associate Ben Pape, and Associate Alex Nnadi. Commercial advice was provided by Partner Rosie Duckworth, Senior Associate Andrew Hill, and Associate Cliodhna Ni Ghadhra. Finance advice was provided by Partner Jatinder Bains, with Senior Associate Scott Perry and Associate William Underwood. Employment advice was provided by Senior Counsel Kirti Tiwari-Mehta and Senior Associate Jaime Douglas-Home.