Starlight Investments secures £45m development loan from Maslow for Liverpool BTR scheme

Maslow Capital has provided a £45m loan to Starlight Investments for the construction of a new 31-storey BTR scheme on the Princes Dock in Liverpool.

The 30-month loan term will support the delivery of the project, which will comprise 278 residential units, ranging from studios to three-bedroom apartments.

The development will also include several amenities, including residents’ space and a roof terrace, while the ground floor will be dedicated for commercial and leisure use. 

The BTR scheme, which is part of the wider £5bn Liverpool Waters regeneration project, is set to be acquired by a Starlight-led institutional partnership as part of a forward purchase agreement. 

This purchase, along with two other projects in Manchester and Ashford, are part 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 of 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, CEO and founder of Starlight Investments, added: "Our venture into the UK's dynamic BTR 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 £45m 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.”

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