Macfarlanes advises Realstar Group on acquisition of Ilford BTR scheme

26 February 2020

Macfarlanes has advised long-standing client Realstar Group, a Canadian real estate investment company on the corporate acquisition of the circa £100m Ilford build-to-rent (BTR) scheme from Beverly Hills-based real estate company Kennedy Wilson.

The scheme comprises two towers, with 35,000 sq ft of commercial space and 10,000 sq ft of residential amenity space. This development is a key addition to Realstar’s BTR-led investment strategy in the UK.

Macfarlanes has advised Realstar on a number of recent deals under its UNCLE brand, including its purchase and forward funding of 347 new homes for private rent on the Colindale Gardens development in north London and its financing and acquisition of Ravenscourt House, a 234-bedroom student accommodation block in Hammersmith.

Real estate advice was provided by partner Clare Breeze with support from senior counsel Margaret Rhodes and solicitor Gwen Llewelyn Atkinson. On the corporate side, the Macfarlanes team was led by partner Justin Hope with assistance from senior solicitor Eniga de Montfort and solicitor Laura Hatfield. Advice on the financing aspects came from partner Jat Bains and solicitor Christine Dowdall. Construction input came from senior solicitor Rebecca Whatman with senior solicitor Hayley Cole providing planning expertise. Tax expertise was provided by tax and reward partner Mark Baldwin alongside senior solicitor Sarah Shucksmith.