Macfarlanes advises Realstar on major London PRS deal
06 February 2019Macfarlanes has advised leading real estate investment and management company Realstar on its purchase and forward funding of 166 new homes for private rent in Southall, West London.
The development will comprise two 17 and 20 storey residential buildings, located close to Southall's new Crossrail station, and operated under Realstar's UNCLE brand. The scheme will be built by FTSE-250 housebuilder Redrow Homes.
Macfarlanes has advised Realstar on a number of recent UK deals, including its financing for PRS schemes in Wembley, Elephant and Castle and New Cross, and its financing and acquisition of Ravenscourt House, a 234-bedroom student accommodation block in Hammersmith. Macfarlanes' team for the Southall project was led by real estate partner Clare Breeze, assisted by senior construction solicitor Radhika Shah and real estate solicitor Tania Barnes.
Clare Breeze comments: "This is a major scheme in London's emerging PRS market, and we are delighted to have worked with one of the industry's foremost brands to help them bring forward this exciting project."