Apache and Moda's tallest scheme secures Goldman Sachs funding
London firm Apache Capital Partners and Yorkshire developer Moda Living have secured funding from Goldman Sachs for a new build-to-rent development.
Based in Birmingham, the £184m Broad Street project will be the first UK build-to-rent plan for the investment giant, featuring around 31,000 sq ft of amenity space, including co-working areas, communal lounges and dining facilities.
The project will mark the latest collaboration for institutionally-backed London investment firm Apache Capital Partners and Harrogate-based rental developer Moda Living, with 6,500 apartments already developed across nine cities in England and Scotland.
Richard Jackson, managing director and co-founder at Apache Capital said: “We’re delighted to partner with Goldman Sachs for their first UK multifamily deal. Birmingham has incredible long-term investment potential with considerable investment underpinning new infrastructure and employment.”
Johnny Caddick, managing director at Moda Living, added: “We are excited to get started on our tallest scheme to date and the funding is a massive vote of confidence for quality build-to-rent in Birmingham.”
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