Macfarlanes advises Realstar on the acquisition of the Allegro build-to-rent property in Birmingham

Macfarlanes has advised long-standing client Realstar on the indirect corporate acquisition and simultaneous financing of One Exchange Square, a 603-unit build-to-rent property in Birmingham. 

Realstar has acquired the high-spec property which includes a communal garden, a roof terrace, a gym and lounge/co-working space. The acquisition further expands the Realstar’s build-to-rent portfolio in the UK and Ireland that now comprises nearly 6,000 apartments.

This strategic acquisition underscores Realstar’s commitment to investing in rental properties in key locations across the UK. The Macfarlanes team worked closely across their dedicated Private Equity Real Estate, Finance, Private Funds and Tax teams, with Jersey law input from Ogier to deliver the acquisition and financing in the final weeks of 2024. 

Private Equity Real Estate advice was provided by Partner Dan Marriott, supported by Senior Associates Andrew Wheelhouse and Emily Walker. Financing advice was provided by Partner Jat Bains with support from Senior Associate Christine Dowdall-Platt. Tax advice was provided by Partner Sarah Shucksmith and Associate Krishant Sen. 

Dan Marriott of Macfarlanes commented: “We have had a long-standing relationship with Realstar and take great pleasure in being a key partner in the continuing growth of their build-to-rent portfolio.”