M&A Advisory
K&L Gates
Full Credential Description
K&L Gates advised PATRIZIA AG on two significant acquisitions in the UK real estate market, specifically targeting the build-to-rent (BTR) sector. The first acquisition involved a 16-storey, 102-unit BTR residential tower development in west London, purchased for EUR 45 million (GBP 40.3 million). This transaction was pivotal as it increased PATRIZIA’s managed assets in the residential sector to over EUR 12.7 billion. The tower, part of the Regency Heights development in Park Royal, is set to feature a mix of high-quality one-, two-, and three-bedroom apartments and is strategically located on the edge of a major regeneration zone in London. The second acquisition was “The Residences” BTR scheme in the Edgbaston district of Birmingham, adjacent to the Edgbaston Cricket Ground. PATRIZIA acquired this site from Warwickshire Cricket Club and Homes England, with a gross development value of £90 million. This project will provide 375 high-quality apartments along with approximately 20,000 sq ft of retail and leisure space on the ground floor, positioning it in a core residential area of Birmingham. These transactions were characterized by their complexity and tight deadlines, underscoring the importance of K&L Gates' expertise in navigating the challenges posed by the market, particularly in the context of the Covid pandemic. The successful completion of these deals not only reinforced PATRIZIA's position in the residential sector but also highlighted the critical role of the residential market in the broader economy and government policy.
Measurable Results
Successfully completed $90M transaction