JLL acts as lead advisor on sale of UK’s largest residential shared ownership portfolio

JLL has acted as Lead Financial and Real Estate Advisor on behalf of a local authority pension fund in the sale of the UK’s largest shared ownership portfolio to Heylo Housing Group.

The sale of over 3,300 residential homes for £365m represents the largest single transaction of a shared ownership portfolio, both in terms of the number of homes sold and total deal value.

JLL led and project managed all aspects of the transaction – including modelling, structuring, due diligence, data room oversight, pricing and deal negotiation – which culminated with the sale of the UK-wide portfolio to a national for-profit registered provider funded by major institutional investors.

Ian Guthrie, Senior Managing Director, Loan Advisory, JLL, said: “Our role as Lead Advisor on this ground-breaking transaction enabled us to draw upon an unrivalled combination of loan advisory, corporate finance and residential expertise. The outcome, for our client, is the result of over 12 months hard work and represents a fantastic achievement delivered through first-class teamwork, despite the backdrop of a challenging economic environment.”

Charles Cleal, Director, Affordable Housing, JLL, added: “This is by far the largest shared ownership transaction to date. With a large amount of interest from private capital we expect investment in this asset class to continue to grow. This positive outcome for our client is testament to the experience and expertise of our affordable housing, corporate finance and loan advisory teams.”