Investment manager snaps up 247-apartment scheme

Global investor L1 Property has swooped for 247 build-to-rent apartments in Birmingham, as it looks to expand its portfolio.

The UK real estate arm of Australian investment manager L1 Capital has acquired the Equipoint site in Yardley.

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. I’m incredibly proud of our team’s efforts in securing this asset under highly competitive conditions.

“We are eager to add more assets to our portfolio, and this success reaffirms L1’s capacity and commitment to take on large-scale, complex acquisitions.”

CBRE advised the vendor. Daniel Nevies of Oban Group and David Kanter and Daniel Lipman of Mishcon de Reya advised L1 Capital on the transaction.