CLIENT LOGIN
article

Apache & Goldman Sachs agree £118m debt facility

Apache Capital Partners has secured a £118m debt facility from Goldman Sachs to construct Birmingham’s tallest residential building, as it accelerates delivery of its build-to-rent pipeline with Moda Living. The 4.5-year facility includes a 12-month extension option. Goldman Sachs is a significant global investor in the US and European rented residential markets and the transaction marks its’ first UK multifamily development loan.

Planning was granted for the 42-storey skyscraper at 212-223 Broad Street, Birmingham in December 2017. Future residents will be within walking distance of the city centre and new HS2 terminal, with Broad Street and the surrounding area also undergoing massive regeneration. A three-storey podium with a rooftop running track, the first in a UK residential development, will also house an additional 35,000 sq. ft. of retail and commercial space.

The £184m GDV scheme is being delivered by Apache Capital Partners and Moda Living, an owner, developer and operator of private rented housing.
Contact us to find out more
other news articles
Apache aims to raise up to £600m for second UK BTR platform
Apache Capital is aiming to raise between £500m and £600m of capital throughout this year for its second UK build-to-rent platform.
Read more
RESICast with Property Week: Mixed Use: the Changing Face of Britain’s Town Centres
Mervyn Howard, Executive Chairman & Philip Neil, LaSalle Investment Management, discuss responsible resi investment with Property Week, September 2019
Read more
Apache in £100m joint venture with McLaren
Completion of £100m student accommodation joint venture scheme in Shoreditch, London.
Read more