Trowers & Hamlins has advised Apache Capital Partners on the acquisition of their new 0.77-acre Birmingham development with Moda Living.
The premium purpose-built rental development on Broad Street, will be delivered by Moda Living, and will be fully funded by Apache Capital, the London and Gulf based private real estate investment management firm.
It will comprise of a 37-storey tower with 450 apartments and 30,000 sq ft of communal amenity space, with around 35,000 sq ft of shops, office and leisure and it will be the first major project in the city by the duo’s private rented sector joint venture.
Trowers & Hamlins Corporate Partner Nick Harrisingh, who advised on the deal said:
“We have been working with Apache Capital for many years, and it’s exciting to be involved in projects like this – it’s at the heart of what we do. The scheme will be of huge benefit to central Birmingham and surrounding areas, and includes a wide range of regeneration elements, such as housing, employment, infrastructure and inward investment”.
Real Estate Partner, Julien Keith who also worked on the deal added:
“Our work on this project has been extremely rewarding and we look forward to seeing this project develop.”
Apache Capital and Moda Living will retain ownership of the property and operate it themselves.
Richard Jackson, Co-founder and Managing Director of Apache Capital Partners, said:
“Our longstanding relationship with Trowers & Hamlins has been integral during this project and they expertly guided us through the deal, and will continue to do so as the development progresses. This prime site is perfectly placed in the heart of central Birmingham and will deliver a completely new standard of residence and lifestyle for the city centre rental market.”