L1 Property, the UK real estate investment arm of L1 Capital, has completed the acquisition of the 247-unit Equipoint build-to-rent (BTR) scheme in Birmingham for an undisclosed price.
The stabilised residential block, which comprises a mix of one- and two-bedroom apartments, is located in Yardley, within a 15-minute drive of Birmingham city centre.
David Lamm, chief executive officer of L1 Property, said: “Equipoint provides modern living spaces in a great location and we look forward to delivering a great resident experience. I’m incredibly proud of our team’s efforts in securing this asset under highly competitive conditions. We are eager to add more assets to our portfolio, and this success reaffirms L1’s capacity and commitment to take on large-scale, complex acquisitions.”
CBRE advised the vendor and Daniel Nevies of Oban Group and David Kanter and Daniel Lipman of Mishcon de Reya advised L1 Capital on the transaction.
