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CBRE agrees to buy Telford Homes for £267m
US real estate developer says London-based housebuilder offers ideal foothold into capital’s build-to-rent market
CBRE, the US real estate giant, has agreed terms to buy London-based build-to-rent housebuilder Telford Homes for nearly £270m.
The deal, announced today, has been agreed by boards of both firms, with CBRE prepared to pay 350p a share for the AIM-listed Telford Homes, an overall premium of 11% on yesterday’s closing price.
Telford Homes has recommended shareholders take the cash on offer, worth £267.4m.
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