International legal practice Osborne Clarke has advised Cording Real Estate Group, the European real estate investment and asset management firm, on its second deal for its new £400 million Cording Residential Investment Fund, which invests in the build to rent sector (BTR) on behalf of Continental European investors. Osborne Clarke also acted on the first deal for this fund, a £50 million forward funding of a BTR development in Leicester.
The fund has agreed to forward fund a build-to-rent development in Warrington by High Street Group for around £40 million. Located in John Street, in the heart of the Stadium Quarter regeneration area, the development will provide 362 one and two-bed apartments. Construction will commence on site this month and is expected to be completed in early 2021.
Osborne Clarke is a recognised industry leader in real estate, with particular expertise in advising on BTR transactions, providing a comprehensive sector-led service that provide responsive advice to a variety of major real estate industry organisations, ranging from developers and investors to property funds and corporate occupiers.