£45m funding for Liverpool Waters BTR development

Funding of £45m has been agreed to bring forward a 31-storey build-to-rent (BTR) development in the Liverpool Waters Regeneration Area.Maslow Capital has provided the loan to Starlight Investments to support its scheme on the Princes Dock.The development, part of the wider £5bn Liverpool Waters regeneration project, will comprise 278 residential units, ranging from studios to three-bedroom apartments.The ground floor will be dedicated for commercial and leisure use, with a residents’ amenity space and a roof terrace provided overlooking the Mersey River.The BTR scheme is set to be acquired by a Starlight-led Institutional Partnership as part of a forward purchase agreement. The purchase, along with two other projects in Manchester and Ashford, represents a pivotal element of Starlight’s long-term UK strategy, which aims to target BTR projects across major UK cities and London commuter belt markets, with an initial goal of acquiring approximately £600m worth of assets.James Henry, director, deal origination at Maslow Capital, said: “Our partnership with Starlight Investments stems from a shared ambition to alleviate the UK’s structural undersupply of housing and Maslow’s continued commitment to funding high-quality living sector assets.”We are delighted to support another top-tier institutional partner on an exceptional project that will help address Liverpool’s housing needs. Furthermore, this project marks one of the first steps of Starlight Investments’ ambitious plan to harness its vast scale and North American expertise to significantly contribute to the UK’s housing supply.”Daniel Drimmer, founder and chief executive at Starlight Investments, added: “Our venture into the UK’s dynamic build-to-rent market, commencing with this landmark project at Princes Dock, Liverpool, signifies a strategic expansion backed by our robust North American portfolio. Securing support from a trusted partner like Maslow is a testament to the alignment between our shared goals. The £45 million financing not only accelerates our initial expansion into the UK housing market but also strengthens our commitment to addressing the pressing housing needs in the region.”This collaboration with Maslow is central to our long-term vision in the region and represents an important step in the delivery of our UK BTR strategy. We look forward to the positive impact this relationship will have on the UK’s residential housing market in the coming years.”