Manchester-based private equity firm The Blackmore Group has instructed BNP Paribas Real Estate (BNPR) to be its main property adviser as it prepares to enter the residential development and investment sector in the UK for the first time.
The bespoke investment house is expanding its property arm in the residential sector through the Blackmore Bond, a real estate property bond that will fund both residential and commercial property development projects.
'This is an exciting time for The Blackmore Group with our launch of the Blackmore Bond, and we need to ensure we are receiving the best advice from a leader in the residential investment and development sector,' commented Phillip Nunn, (pictured), chief executive of The Blackmore Group. 'Working with the residential capital markets and investment team at BNPPRE will ensure the best returns for our clients and a new, leading investment product.'
The bond will offer investors a fixed return over a term of four or five years and gives retail investors the opportunity to access the residential property market.
Ricky Poonia, associate director for residential capital markets and investment at BNP Paribas Real Estate, will provide The Blackmore Group with advice on acquisitions.
'We are delighted to have been appointed as advisers to The Blackmore Group, who already have a well-regarded reputation as investment managers. Our strong and in-depth understanding of the residential property market throughout the UK ensures we will be giving the best advice to ensure maximum returns for their clients,' Poonia said.
BNPPRE’s residential capital markets team specialises in the sale and acquisition of residential investments throughout the UK, with a focus on residential development, student accommodation and the build-to-rent sector, making it an ideal match for the latest entrant into the residential market.
