Mishcon de Reya has successfully advised L1 Property (the UK real estate investment arm of global investment manager, L1 Capital), on the acquisition of Equipoint, a significant build-to-rent (BTR) asset in Birmingham. The 247 unit stabilised residential block in Yardley features modern living spaces and is perfectly situated within close proximity to Birmingham city centre and Birmingham Airport. Birmingham continues to be a prime location for BTR investments as demand for high-quality, professionally managed rental properties grows.
David Kanter, Managing Associate in the Real Estate department at Mishcon de Reya, said: "This acquisition is yet another milestone in L1 Capital's continuing UK growth strategy, and we are proud to have supported them in positioning Equipoint as a key asset in their expanding residential portfolio in vibrant Tier1 UK cities. It's exciting to witness first-hand the opportunities available in the UK residential market, particularly in vibrant cities like Birmingham".
David Lamm, CEO of L1 Property, said: "Equipoint provides modern living spaces in a great location and we look forward to delivering a great resident experience. We are eager to add more assets to our residential portfolio, and this success reaffirms L1’s capacity and commitment to take on compelling large-scale, complex acquisitions. I am incredibly proud of our team’s efforts in securing this asset under highly competitive conditions and delighted to have partnered once again with David, Daniel and the wider Mishcon team who showed great ambition and who enabled us to move with purpose to close the deal".
With over 130 fee earners including 46 partners, Mishcon de Reya's Real Estate department is one of London’s largest and most diverse property teams. Our Real Estate department comprises well-regarded specialist practice areas and provides a one stop shop for all of our clients' property requirements. The team provides a seamless service from investment, structuring, funding, acquisition and planning, through to construction, development, tax and litigation advice.