In September 2015, Gowling WLG's real estate partner, Ed Colreavy, led a team of specialists in advising client Telereal Trillium on its acquisition of Lands Improvement Group (LIG) from BlackRock Europe Property Fund III.
LIG specialises in acquiring greenfield and brownfield sites for residential-led redevelopment, an aim which aligns with Telereal Trillium's own. Ed's team was a cross-sector group of corporate and real estate solicitors, with assistance from experts in insurance, tax, employment and pensions to ensure the acquisition provided best value for all concerned.
Kevin Moriarty, managing director of Lands Improvement Group, commented that: "The deal brings together two companies with a wealth of knowledge and expertise in property and strategic land development at a time when there is significant political market pressure to deliver housing in the UK."
Graham Edwards, CEO at Telereal Trillium, added: "at a time when there is a chronic housing shortage within the UK, we are delighted to be acquiring one of the major players in addressing the housing shortfall."
Telereal Trillium owns and manages a UK-wide portfolio of 8,000 properties with an asset value of £5.5 billion. Lands Improvement is a successful strategic land business with a portfolio of 26 assets in various stages of delivery across the UK, from planning promotion to land sales.