Post by BNP Paribas Real Estate

Working alongside BNP Paribas CIB, we have advised London & Quadrant Housing Trust (L&Q) on the sale of its Private Rented Sector business to Morgan Stanley in a transaction valued at £1.045 billion. In one of the most significant residential investment transactions completed in the UK market, the sale of L&Q PRS Co Ltd (which trades as Metra Living) comprised a portfolio of circa 3,200 homes across over 60 schemes located in some of London’s key growth locations including Acton Gardens, Barking Riverside, Haggerston, Islington, Nine Elms, Royal Wharf and Wandsworth. The sale includes the transfer of Metra Living’s operational platform and team. The acquisition by an investment fund managed by Morgan Stanley Real Estate Investing (MSREI) in partnership with Ridgeback Group, reflects the continuing institutional conviction in the UK residential sector and the long-term fundamentals underpinning London’s rental market. Simon Williams, Head of National Markets commented: “This is a hugely significant transaction in the current market that demonstrates the depth of investor appetite for high-quality, income-producing residential assets. "Portfolios of this scale and quality rarely come to market and the highly competitive sales process reflected the strength of conviction among global capital seeking a significant exposure to London’s private rental housing market.” More information: https://lnkd.in/e4bj_UbB Gavin Hendry Richard Choi Nick Robinson Max Marston Rebecca Shafran Aiden Grant Giuseppe Vatiero Chris Nam Nicolas Schwab BNP Paribas