Travers Smith LLP advised longstanding client Nest on its new investment in the UK build-to-rent sector in partnership with Legal & General (L&G) and Dutch pension scheme, PGGM.
Building on Nest's existing commercial relationship with L&G, the strategy is initially backed by £350 million of combined investment, which is expected to grow to a portfolio of £1 billion over the coming years. With a shortage of high-quality rental housing, this exciting investment opportunity for members hopes to meet some of this rental demand whilst supporting domestic economic growth.
The Travers Smith team was led by Head of Funds Jeremy Elmore and Senior Counsel Sarah Stewart, with assistance from Tax Partner Emily Clark and Senior Associate Aimee Hutchinson.
