Hogan Lovells Advises on £125m Industry First
10 January 2013
LONDON, 10 January 2013 - Hogan Lovells advised The M&G Secured Property Income Fund and Allen & Overy advised Genesis Housing Association on the sale and 35 year operating leaseback of 401 residential apartments in Stratford for approximately £125 million. This transaction marks the first sale of this kind and on this scale by a housing association to a private investment fund. The transaction completed on 8 January 2012.
The Hogan Lovells team advising M&G was led by London real estate partner Jackie Newstead, supported by Of Counsel Nicholas Roberts and senior associates Jill Pittaway and Hannah Quarterman. Tax partner Kevin Ashman and senior associate Aaron Burchell, and infrastructure and project finance associate Rebecca Cifelli also advised.
The Allen & Overy team advising Genesis was led by London partner Adam Cleal supported by associate Michael Chivers.
Commenting on the transaction, Jackie Newstead said:
"It's always exciting to advise on an industry first. We are thrilled to have been involved in its success and to be starting the New Year on this positive note."
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