UK law firm Shoosmiths has advised Moorfield Group, the UK real estate fund manager, on its £600m partnership with Bricklane, the proptech residential investment platform.
The partnership is targeting a £600m portfolio of residential properties for rent, initially in London, Bristol and the South-East, with the investments acquired and managed by Bricklane using its proprietary technology platform, Compass. The partnership will bring innovation to the UK residential property sector, utilising data-led technology to source, acquire, manage and improve residential properties in target markets.
The multi-disciplinary Shoosmiths team was led by commercial partner Alex Kirkhope and real estate partner Simon Meek, working together with James Foster, Simon Procter and Natalie Hager (Corporate), Heather Stark (Commercial) and Tim McNamara and Kat Acott (Banking).
The transaction is the latest in a series of joint venture partnerships the Shoosmiths team has acted on, including Moorfield’s recent partnership with We Are Kin, targeting the house in multiple occupation (HMO) student accommodation market.
Alex Kirkhope said: “We are delighted to have been able to work alongside the Moorfield team to put in place this innovative partnership with Bricklane, which will deliver technology and data-driven solutions in the private rented sector. It’s been pleasing once again to work with a cross-practice team of Shoosmiths specialists to help deliver this transaction.”
Moorfield Group was also advised by BDO.