The Astley, Manchester is a development of 135 build-to-rent units comprising studio, one, two and three bedroom apartments, with three commercial units on the ground floor. Osborne Clarke have advised M&G on this asset for a number of years, having dealt with the original acquisition and forward funding of the development.
M&G have now completed its disposal of The Astley to Grainger for £31m, demonstrating the continued evolution of the secondary BTR market and highlighting the growing interest in the acquisition of stabilised prime BTR assets by investors and operators.
The cross-sector team from Osborne Clarke who advised on this disposal was led by Partner Anastasia Gorokhova and assisted by real estate Associate Harry Chapman. The team also included Partner Olivia Sinfield and Senior Associate Alice Spicer Edwards on employment matters, Partner Tracey Wright and Senior Associate Helena Zaba on tax, Senior Associate Simon Budge and Paralegal Ellie Salt on construction, Senior Associate Julian Wolfgramm-King on environmental and Partner Tamara Quinn on IP.
Osborne Clarke is a recognised industry leader advising real estate businesses, providing a full lifecycle service across all asset classes. The team advise on a comprehensive range of market leading development and regeneration mandates, investment and leasing work, together with corporate, commercial and financing advice across all real estate sectors.
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