Gatehouse UK Private Rented Fund I has agreed to invest £10.2m to fund the development of a build to rent scheme of 66 family homes in the West Midlands.
The scheme will be made up of 23 two-bed, 39 three-bed and 4 four-bed houses and is being built by Vistry Partnerships. The deal was advised by Gatehouse Bank which is also a co-investor.
Colliers International acted as property advisers and Dentons as legal advisors on the transaction.
The scheme, on Raleigh Street, will form part of the second build to rent fund advised by Gatehouse Bank which, since its establishment in December 2015, has spent around £90m on the construction of 684 single family houses across the UK.
Following the completion of Raleigh Street, the fund will comprise of a 750 unit single family housing private rented sector portfolio. The portfolio is being professionally managed through a build to
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