Deal typeTransaction Services
IndustryReal Estate
Client nameLondon & Quadrant Housing Trust
London & Quadrant Housing Trust, one of the UK's largest housing associations and a member of the G15, decided as part of its long term strategy (focused on simplifying its organisation, prioritising its core purpose as a social housing provider, and strengthening its financial capacity to dispose its private rented sector business.
L&Q PRS Co Ltd (which trades as Metra Living) was sold to an investment fund managed by Morgan Stanley Real Estate Investing in partnership with Ridgeback Group.
BDO was engaged by London & Quadrant Housing Trust to undertake financial and tax vendor due diligence, and subsequently to provide additional advice on the completion mechanism and sale and purchase agreement.
The BDO project team included:
Jeff Harris, David Wright, Alex Luker (Financial due diligence)
Angela Cross, John Angood (Tax due diligence)
Simon Hall, Andrew Riley, Mike Duncan, Carol Hindle (Completion mechanism)
John Rouse (SPA review)
L&Q PRS Co Ltd (which trades as Metra Living) was sold to an investment fund managed by Morgan Stanley Real Estate Investing in partnership with Ridgeback Group.
BDO was engaged by London & Quadrant Housing Trust to undertake financial and tax vendor due diligence, and subsequently to provide additional advice on the completion mechanism and sale and purchase agreement.
We were delighted to be able to support L&Q on its planned divestment of the PRS business, one of the first of a number of similar transactions by large housing associations that are putting renewed focus on their core mission of social housing.
Jeff Harris, Partner, BDO LLP
The BDO project team included:
Jeff Harris, David Wright, Alex Luker (Financial due diligence)
Angela Cross, John Angood (Tax due diligence)
Simon Hall, Andrew Riley, Mike Duncan, Carol Hindle (Completion mechanism)
John Rouse (SPA review)