Goldman Sachs enters UK BTR sector

Goldman Sachs has made it first foray into the UK’s build-to-rent market by providing Apache Capital Partners with a £118m debt facility for the construction of Birmingham’s tallest residential building, which it is delivering with Moda Living. The scheme, which will create 481 rental flats in a 42-storey tower at 212-223 Broad Street, has a gross development value of £184m. Goldman Sachs’ loan is for 4.5 years, but includes a 12-month extension option. The project will also provide around 31,000 sq ft of amenity space, including co-working areas, communal lounges and dining facilities, as well as a rooftop running track