Maples and Calder, the Maples Group's law firm, has advised Apache Capital Partners on the Jersey legal aspects of the debt and equity funding of its build-to-rent (BTR) joint venture development in Glasgow.
Apache Capital and its development partner, Moda Living, purchased the Glasgow site in 2016. The scheme, known as Holland Park, will replace the former Strathclyde police headquarters with 433 homes for rent, with an expected completion date in 2023.
This development is the fifth project funded by the BTR joint venture between Apache Capital and Harrison Street, with equity also being provided by NFU Mutual. In addition, debt funding is being provided by BentallGreenOak.
A multi-disciplinary team based in the Group's Jersey office advised Apache Capital on this transaction, led by Finance Partner Mark Crichton and Associate John Burns.
The team provided Jersey corporate, finance (including Islamic finance) and funds legal advice to support the smooth closing of the transaction.