Leading UK law firm Shoosmiths has advised national real estate fund manager Moorfield Group on the disposal of The Trilogy to Barings for approximately £53.5 million.
The Trilogy is a build to rent asset based in Manchester featuring 232, one, two and three bed apartments, together with a range of onsite amenities, including a gym, 24 hour concierge, underground car parking for 75 vehicles, a communal courtyard garden and a residents’ lounge. The disposal was transacted by way of corporate share sale.
The multi-disciplinary Shoosmiths team was led by corporate Partner Simon Procter together with Natalie Hager and Anna Jackson-Smith (Corporate), alongside Simon Meek, Richard Bellamy and Charles Jackson (Real Estate), Kate Garcia (Tax) and Tim McNamara and Saima Rasool (Banking).
Shoosmiths’ Simon Procter, said: “We are pleased to have advised Moorfield on the successful divestment of The Trilogy. The Shoosmiths cross-practice team has worked incredibly hard together with Moorfield and the wider advisory teams to deliver this transaction – it has been a fantastic team effort.”
Moorfield Group was also advised by PwC (tax) and Arendt & Medernach SA (Luxembourg legal).
The sale is the latest transaction successfully delivered for Moorfield Group, with Shoosmiths also advising on their recent £600 million partnership with Bricklane, the proptech residential investment platform and the £57m divestment of the Newcastle based Forge rental apartment and commercial unit earlier this year.