Apache & LaSalle agree £150m GDV debt financing for BTR scheme in Leeds

Apache Capital and Moda Living raise the standards of renting with their new Build to Rent development.

Apache Capital and Moda Living | BTR News

Apache Capital Partners have secured £96m from LaSalle investment Management. Part of their joint venture with Moda living, this will fund a £150m city centre Build to Rent development.

In mid 2023, the four-year development loan from LaSalle will fund the construction and stabilisation of New York Square.

The 515-home scheme is one of seven within the multifamily housing platform created by Apache Capital, along with Harrison Street Real Estate and NFU Mutual.

New York Square will consist of a 24-hour concierge, flexible workspaces, communal lounges and health and wellbeing facilities. Apache Capital and Moda Living are raising the standards of renting by providing a tech-enabled, hotel-style service along with a variety of on-site amenities.

To date, this is LaSalle’s biggest UK Build to Rent development loan and it’s the company’s fourth debt financing deal with Apache Capital.