Practice Areas - Real Estate Law Firms and Lawyers
| Deal Date: | 05-02-2014 | Practice Area: | Real Estate |
| Deal Title: | Legal & General Acquisition of Prestbury Investments Care Homes | Industry: | Real Estate Investment & Services |
| Description: |
Slaughter and May advised Legal & General on the acquisition of 13 care homes from Prestbury Investments, for a total purchase price of just over GBP70 million. The portfolio consisted of 12 freehold properties and one long leasehold property and the homes are let to Methodist Homes (MHA), a leading care home provider.
Legal & General has lowered the current rents for 13 care homes by providing MHA with long term stable financing, with leases that have annual RPI-linked rent reviews, creating stability and certainty.
Real Estate: Jane Edwarde (partner), Jane Hilton (associate), Gemma Goddard (associate); Tax: Jeanette Zaman (partner), Ed Milliner (associate).
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| Financial Center: | London | Value: | 0.00-100.00 |
| Advised Party: | Purchaser | Law Firm | Slaughter and May |
| Real Estate Jurisdiction | United Kingdom | Purchaser Jurisdiction | United Kingdom |
| Classification: |
Real Estate Acquisitions and Disposals Mixed-Use Schemes |
Lawyer | Jane Edwarde |
