Leading UK law firm Shoosmiths has advised national real estate fund manager Moorfield Group on the disposal of The Forge to Grainger plc for approximately £57 million.
The Forge is a Newcastle-based stabilised income producing Build-to-Rent asset, comprising 283 rental apartments and a ground floor commercial unit, and the disposal was transacted by way of corporate share sale.
The multi-disciplinary Shoosmiths team was led by corporate Partner Simon Procter and real estate Legal Director Charles Jackson, alongside Sophie Davies and Jessica Wetherop (Corporate), Heather Stark (Commercial) and Tim McNamara and Sam Jadhav (Banking).
Shoosmiths’ Simon Procter, said: “We are pleased to have advised Moorfield on the successful divestment of The Forge. 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.