Macfarlanes advises Realstar Group on two financing deals totalling £100m for BTR developments in London
Macfarlanes advised on a £55m development facility to assist an affiliate of Realstar in financing the £100m construction of the Chesterfield House development in Wembley. This project will be formed of two BTR towers containing a mix of 239 apartments, retail space, a public square and a community centre.
The firm also assisted an affiliate of Realstar with a £45.8m investment facility to refinance two BTR properties at New Cross, New Cross Gate and Empire Heights, which feature a range of 1, 2 or 3 bedroom apartments.
These developments form part of Realstar’s BTR-led investment strategy in the UK with the company at present owning and developing over 1,000 apartments across London. The assets will be managed and leased under Realstar’s UNCLE brand.
Real estate advice was provided by partner Dan Marriott with support from senior solicitor Katy Rose and construction input from senior solicitor Radhika Shah, with Simon Masri of Dentons advising in relation to the Empire Heights property. On the financing side, the Macfarlanes team was led by finance partner Jat Bains with assistance from senior solicitor Lizzie Chamberlain and solicitor Matthew Mawson.