Fladgate advised K&C REIT on the agreed acquisition of the entire issued share capital of The Osprey Management Company Limited for an aggregate consideration of £1.6 million. Osprey owns a portfolio of premium retirement and residential properties in London and southern England. Osprey also provides property management services to the occupiers in the majority of their portfolio and also to other industrial and residential properties.
K&C REIT is an AIM-listed real estate investment company with the objective of building a substantial residential property portfolio that generates secure income flow for shareholders through the acquisition of SPVs (Special Purpose Vehicles) with inherent historical capital gains.
Tim James, Managing Director of K&C REIT, commented:
“We are delighted to have the opportunity to add to our property management resources and buy assets in excellent areas in portfolios that can capitalise on K&C’s considerable property expertise. We are particularly pleased that, in every way, the acquisition supports our investment strategy of seeking and acquiring high quality properties held in special purpose vehicles where the owners are seeking an exit. We also look for properties which, by employing the expert long-term management that K&C can deliver, offer our shareholders the opportunity for greater returns. We feel that Osprey is an ideal proof of our investment strategy.”
The Fladgate team was led by capital markets partner Nigel Gordon, and supported by real estate partner Matthew Williams, banking and finance partner Luke Morris, corporate associate Victoria Miller, and real estate associate Jennifer Johnson.