Pinsent Masons advises on £349m sale of G:Res to GRIP fund backed by APG and Grainger

22 Jan 2013 | 01:17 pm | 1 min. read

International law firm Pinsent Masons has advised G:Res 1 Limited on the £349m corporate disposal of its market-let residential UK property portfolio to GRIP. GRIP is a residential investment fund backed by Grainger plc, the UK’s largest listed residential landlord, and APG Strategic Real Estate Pool.

As well as co-investing in GRIP, Grainger has on behalf of GRIP arranged new long term debt from Barclays Corporate and AXA. Grainger will also continue to provide fund, asset and property management services to GRIP going forward. GRIP's aim will be to grow by investing in predominantly stabilised, market-let blocks and portfolios focused on Greater London.

Christopher Bennett, Director of G:Res and Head of Real Estate at DCG said: "The transaction has successfully delivered the sale of the fund assets and return of capital to investors considerably earlier than programmed under the break up strategy in place, whilst removing both execution risk and the need to refinance in early 2014."

Nick On, Group General Counsel of Grainger plc, said: "This is an important transaction for Grainger, which had some particular complexities which were well handled by all the professional advisors involved. We're delighted to achieved a successful completion."

The Pinsent Masons team advising on the sale was led by Corporate/M&A partner Robert Moir, supported by Iain Butler, Rhodri Evans, Matthew Friedlander and Louise Barnett (corporate), Rebecca Wilcock (banking), Matthew Rowbotham (tax) and Katie Tucker (insurance).


Robert Moir commented: "We are delighted to have acted for G-Res on this significant corporate real estate transaction. We are seeing increased strategic M&A and investment activity in the real estate sector and it is very pleasing to have had the opportunity to work for G-Res following our appointment to the Grainger plc panel last summer."

Latest press releases

Show me all press releases

Pinsent Masons advises Condeco Group on major acquisition to transform workplace management

Multinational law firm Pinsent Masons has advised Condeco Group on its acquisition of ProxyClick SA, the leading global provider of enterprise visitor management software.

Pinsent Masons advises Suffolk Council on its public-private partnership to deliver £700m social development and housing projects

Multinational law firm Pinsent Masons has advised Suffolk Council on its proposed public-private alliance with Lovell Partnership to deliver nearly 3,000 much-needed homes across the region.

Pinsent Masons advises on €1 billion variable annuity policies transfer

Multinational law firm Pinsent Masons Irish corporate insurance team has advised Athora Ireland plc (Athora) on its transfer of a book of variable annuity policies to Monument Life Insurance DAC, with assets under management valued at nearly €1 billion for circa 13,000 customers.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Condeco Group on major acquisition to transform workplace management

Multinational law firm Pinsent Masons has advised Condeco Group on its acquisition of ProxyClick SA, the leading global provider of enterprise visitor management software.

Pinsent Masons advises University of Birmingham on major student accommodation project

Multinational law firm Pinsent Masons has advised the University of Birmingham on a 1,200-bed student accommodation project which will provide nearly 500 new student bedrooms and upgrade over 700 existing student bedrooms at Pritchatts Park Student Village.

Pinsent Masons advises London School of Economics on major student accommodation redevelopment project

Multinational law firm Pinsent Masons has advised the London School of Economics (LSE) on a major student accommodation redevelopment project which will provide 676 new student bedrooms together with associated commercial space and a community café in Southwark.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts