Ogier Instrumental in £140 Million Financing Deal for The Collective
Jersey legal advice from Ogier has been instrumental in the agreement of a new £140 million financing deal which will help innovative co-living operator, The Collective, to expand their global property interests.12 March 2020
The Collective will use the finance package to acquire additional development sites, with a particular focus on the UK, Germany, Ireland and the US. The Collective’s co-living concept combines private living space with shared space and amenities and is part of a wider vision to provide modern, sustainable neighbourhoods. The Collective now has a £2.6bn global portfolio with a goal of opening 100,000 co-living units by 2025.
Ogier’s corporate team comprising partner Richard Daggett, senior associate Amy Garrod, associate Alex Fisher and paralegal Hugo Reid worked alongside Ogier Global’s Lawrie Cunningham, James Philpott and Danielle Newton to advise on the Jersey legal and corporate administration aspects of the financing package. English legal advice was provided by CMS Cameron McKenna Nabarro Olswang LLP.
Richard said: “We have once again been able to combine our legal expertise and experience in real estate transactions with the administration services provided to clients investing in UK real estate by Ogier Global. The Collective have an inspiring vision for new community developments and it was a pleasure to be involved in this transaction.”