We are excited to announce that Addington and AddLiving have been appointed as asset and property managers by Ares Management following completion of the acquisition of an expansive housing development, three miles north of Birmingham city centre, by an Ares Real Estate Fund (“Ares”).
The estate comprises nine low-rise residential blocks of 529 privately let apartments adjacent to, and including, a student campus with an additional 665 beds, in twelve blocks and a listed Hall. The estate is c. 450,000 sq. ft. and provides affordable housing and student accommodation.
Addington and AddLiving believe this is a great opportunity to actively manage the estate and we look forward to working with Ares to oversee the delivery of quality housing.
Allsop advised the seller and Savills served as advisors to Addington and Ares.
