The acquisition of £60m build-to-rent development Merlin Wharf, located in the Waterside regeneration area of Leicester, has been completed.
Acquired by Edmond de Rothschild Real Estate Investment Management, the development, located in Bath Lane by the River Soar, comprises 384, one and two-bed apartments, designed by Leicester-based architect Staniforth.
It was forward funded by the Edmond de Rothschild Residential Investment Fund UK, which invests in the private rented sector (PRS) on behalf of European institutional investors and completed at the end of last month.
The fund’s development partner was Leicester Lettings and the contractor was Winvic Construction.
Edmond de Rothschild REIM operates a vertically integrated platform and will provide a lettings and management service for the completed development from its
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