International law firm Trowers & Hamlins has advised Raven Housing Trust, on the acquisition of 2,227 homes from Orbit in the South East of England. The stock transfer is one of the largest of its kind between two housing associations to date.
The move brings the total number of homes owned and managed by Raven to over 9,500.
The transfer comprises a range of tenures including general needs, leasehold, shared ownership and supported living, across nine local authorities. The majority of homes transferred on completion, with the remainder following a phased transfer plan.
Trowers & Hamlins provided full legal support on the transaction, including comprehensive due diligence, contract support, employment advice, assistance on procurement and construction works and advice on management arrangements. Trowers & Hamlins also supported on an associated financing exercise for Raven Housing Trust advising on £250m of new loan facilities.
Jonathan Higgs Chief Executive of Raven Housing Trust said:
"The transfer of 2,227 homes to Raven marks an exciting milestone for our organisation and a significant step forward in our ambition to make an even greater difference across the South East.
By growing from providing over 7,000 homes to more than 9,500, we are strengthening our position as a locally focused affordable housing provider; one that understands the communities we serve and is committed to investing in their future.
As a housing association that has been rooted in the South East for 25 years, we know these neighbourhoods, understand the needs of local communities and are already working at the heart of them. For customers, this means having a landlord with local teams in place, local knowledge and a genuine commitment to delivering excellent services and support.
This transfer strengthens our ability to invest in homes, services and communities, creating an even greater positive impact for both existing and new customers. It expands our capacity to provide more affordable homes, support more people and build stronger communities across the region. Most importantly, it allows us to build on our purpose of building homes and changing lives, delivering what matters to customers today and for generations to come."
Jeremy Hunt, Partner in the Real Estate team at Trowers added:
"We were delighted to have been able to support Raven on this significant stock transfer, working closely with their team to deliver a smooth transfer that supports long-term benefits for residents and local communities."
The transaction was led by Partners Jeremy Hunt and Hannah Jackson, supported by Senior Associate Ciara Phillips. Construction advice was coordinated by Partners Kathryn Noble and Ivy Acorda, supported by Senior Associate Penny Puttick, while advice on management arrangements was provided by Partner Jessica Arczynski. Banking advice was provided by Partner Natalie Singh supported by Senior Associate Anna Beckett.
