A&O Shearman advises Lendlease and CPP Investments joint venture on divestment of UK Build to Rent portfolio

The transaction comprises a portfolio of 904 residences at Elephant Park, London—a multi award-winning development created in partnership between Lendlease and CPP Investments, with four buildings completed between 2021 and 2024. The transaction represents one of the largest ever single asset BTR disposals in the London market.

The urban renewal of Elephant Park is now largely complete, and the assets are fully stabilised, providing an opportune time for Lendlease and its investment partner to recycle capital from the project.

The A&O Shearman team was led by partners Emma Willoughby, Global Head of Funds & Asset Management Matt Huggett, James Burton, and Emma Perrin, with tax counsel Sorsha Taylor. The real estate team comprised senior associates Akshay Rao and Emily Fyffe, associates Georgia Kandunias and Saranya Barthe, and trainee Charlotte Freeman, with planning support provided by counsel Rob Share. The funds team comprised senior associate James Fraser and associate Maia Gibb. 

Real Estate partner, Emma Willoughby commented: “Acting for the Lendlease and CPP Investments joint venture on the sale of this landmark London residential development has been a privilege. The transaction reflects the continued strength and sophistication of the UK living sector, and the depth of institutional appetite for best-in-class residential assets in prime locations. A scheme of this scale and quality requires market-leading execution across real estate, funds, corporate and tax workstreams, and we are proud to have supported our clients on a transaction that will help shape London’s next generation of professionally managed rental housing.”