Macfarlanes advises Apache Capital on establishment of £610m joint venture with KKR focusing on UK BTR multi-family housing sector
The joint venture will invest £610m in the delivery of BTR projects in core cities across the UK as part of a £1.7bn development pipeline. The properties will be developed by Moda Living and jointly operated by Apache and Moda with sites already controlled in Birmingham and London amongst other cities.
The Macfarlanes team was drawn from its multi-disciplinary private equity real estate (PERE) group, including investment management partner Chris Good, solicitor Caroline Chu, consultant Robert Porter, senior solicitor Nicole Mitchell and solicitor Emily Chandler, and tax partner James McCredie and senior counsel Sarah Shucksmith.
Chris Good comments: “We are delighted to have supported our client Apache Capital Partners in the formation of this exciting strategic partnership with KKR and look forward to seeing the venture’s developments come to fruition over the coming months. We continue to see significant capital inflows into the UK living sector underpinned by strong demographic and structural trends and defensive investment characteristics.”