LIV launches capital markets business
Build-to-Rent (BTR) operator and consultancy LIV Group has this week launched LIV Capital in a joint-venture with Mike Toone, formerly of Tudor Toone, the investment advisory business he jointly founded 23 years ago.
The new venture will be the UK’s first specialist advisory business dedicated to funding for the BTR sector.
Founder director, Graham Bates, chief executive at Leeds-based LIV Group, recently led the £100m forward funding transaction with global real estate investment management firm Heitman on behalf of Liverpool-based developer Brickland, which is bringing 563 build-to-rent apartments into the Manchester and Liverpool markets.
This was Heitman’s first step into the UK BTR market for its European business.
Mike Toone is a respected advisor, whose clients include U+I, McLaren Property, Apache, GCP, L&G and Janus Henderson among other major UK institutions.
His experience includes advising on major mixed-use schemes including, recently, Circus Street, Brighton, a complex deal involving a public private partnership between U+I and the council which comprised 450 student beds, 142 residential units, 50,000 sq st of offices and 10,000 sq ft of retail.
LIV Capital has recently already won a number of mandates, including acting on behalf of developer, Scotfield Group, which is bringing forward one of the UK’s largest regional BTR schemes in Sheffield, with 479 units and a gross development value approaching £80m.
Graham Bates said: “We are extremely active in the BTR sector with our specialist consultancy arm, LIV Consult, helping to shape some of the UK and Ireland’s foremost BTR schemes.
“With our strong connections in the funding market, the launch of LIV Capital was a natural move and we are excited about launching this new venture with Mike Toone who brings with him his enormous experience of complex funding, for the benefit of our clients.”
Mike Toone added: “LIV is the foremost business operating and advising in the BTR sector and I am delighted to be joining forces to create a market-leading boutique funding consultancy.”
