Town Centre Securities has bought out its joint venture partner from the Belgravia Living Group build-to-rent venture.
The deal sees TCS take full control of the venture and gives an exit to Highgrove Group. The pair set up the vehicle in 2016, with its primary asset the Burlington House BTR scheme at Manchester’s Piccadilly Basin.
TCS chair and chief executive Edward Ziff said: “Burlington House was our first build to rent development and has performed well. We are seeing high levels of occupancy and rental growth, which provides the confidence to acquire the remaining interest in BLG, whilst seeking further acquisitions and bringing forward development of potential residential projects within our portfolio.”
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
