M&A Advisory
K&L Gates
Full Credential Description
K&L Gates advised PATRIZIA AG on two significant acquisitions in the UK build-to-rent (BTR) sector, addressing the client's need to expand its residential asset amidst a challenging market environment impacted by Covid-19. The first acquisition involved a 16-storey, 102-unit residential tower development in west London, purchased for EUR 45 million (GBP 40.3 million). This transaction not only enhanced PATRIZIA’s managed assets in the residential sector to over EUR 12.7 billion but also positioned the firm strategically within one of London’s major regeneration zones. The tower, part of the Regency Heights development, is set to feature a mix of high-quality one-, two-, and three-bedroom apartments. The second acquisition was “The Residences” BTR scheme in Edgbaston, Birmingham, adjacent to the Edgbaston Cricket Ground. This site, acquired from Warwickshire Cricket Club and Homes England, has a gross development value of £90 million and will provide 375 high-quality apartments along with approximately 20,000 sq ft of retail and leisure space. These transactions were characterized by their complexity and tight deadlines, necessitating a focused and experienced legal team. K&L Gates' involvement ensured that PATRIZIA could navigate these challenges effectively, reinforcing its position in a key market sector.
Measurable Results
Successfully completed $90M transaction