The transaction creates a combined group with a portfolio focused on community shopping centres and retail parks valued at c£0.9bn.
BDO undertook financial and tax due diligence on Capital & Regional and acted as reporting accountant in respect of the combined circular and prospectus prepared in respect of the transaction.
“We were delighted with BDO’s performance on the Capital & Regional transaction. They navigated us through a relatively complex process and were responsive and flexible in the face of various nuances throughout the transaction. Their reports and guidance were clear and demonstrated their high degree of understanding of the sector (and REIT mergers more specifically). The team also shared very helpful insights on how to integrate the two businesses. I would recommend them as reporting accountant on any similar transaction.”
Will Hobman, Chief Financial Officer, NewRiver REIT plc
“NewRiver is a long-standing client of BDO, and we are delighted to have supported them on another key event in their growth plans. The CapReg deal also capped off a fantastic year for the BDO Real Estate Deals Advisory team, as we had already advised on the mergers of LondonMetric/LXI REIT and Tritax BigBox/UKCM earlier in the year.”
Simon Hall, Partner, BDO LLP
The BDO project team included:
Ian Cooper, Simon Hall, Jeff Harris, Alistair Kelsey, Alex Karski, Benson Sin, Kyri Antoniades, Tashaq Husain, Nick Gee, Will Hyatt, Josh Cowan, Kieran Gosrani (Reporting accountant)
Craig Martin, Andrew Porteous, Olivia Wakefield, Rebecca Boor, Greg Wilson (Financial due diligence)
Lisa Oakes, Chris Jellow (Tax)