Law firm Womble Bond Dickinson (WBD) has advised longstanding client Gatehouse Investment Management and investment firm Carlyle on its first co-operation arrangement and £50m acquisition of one of the largest single-family Housing (SFH) Build to Rent transactions in the UK this year. The transaction marks Carlyle’s entry into the UK SFH Build to Rent market.
The acquisition, which is being led by Newcastle-based real estate partner Tom Willows, includes 288 new-build homes across 15 locations that are to be developed by Gleeson Homes.
“WBD has been at the forefront of SFR activity across the UK and we’re seeing a continuing upward trend, with SFR developments being approved in over 100 local authorities across the UK. This is the latest in a series of significant SFH instructions and enforces WBD’s position as one of the UK’s leading firms for SFR work. Heads of terms on this transaction were signed only six weeks ago and the whole team has worked extremely hard and leveraged our multi-disciplinary teams and SFR expertise and experience to get this over the line for the deadline of end of June.”Tom Willows, Partner, WBD
In addition, WBD advised Gatehouse IM on the co-operation arrangements – led by London-based corporate partner Carl Powlson and asset management and property management agreements – led by London-based commercial partner Lucy Pringle.
WBD has a broad Build to Rent (including SFH) client base and has supported clients on SFH transactions with £110m aggregate deal value and for delivery of 560+ new homes in 2022.