RBC Real Estate Capital Partners has backed UK private rented sector (PRS) specialist Get Living with a £112m (€129.7m) development loan.
RBC said the financing is split across two phases of Get Living’s Middlewood Locks scheme in Manchester.
The first loan is secured by about 275 flats in Phase I of the scheme which has been recently delivered, while the second loan will finance the forward funding of around 550 flats in Phase II, RBC said.
Established in 2016, Get Living is a PRS sector joint venture backed by Delancey Oxford Residential, Dutch pension fund asset manager and Qatari Diar.
Middlewood Locks, which was acquired in January this year, is Get Living’s first acquisition in Manchester.
