Lomond Capital has secured a significant foothold in Birmingham with the acquisition of John Shepherd Lettings and its 1,050 unit portfolio.
Lomond has now taken on both the John Shepherd Lettings and Marwood Homes Ltd Estate Agents brands across four branches in the city, retaining key staff including Richard Crathorne and Gary Black, joint chief executives of Lomond's activities in the city.
The move into Britain's second city comes at the same time as Lomond's Aberdeen-based Stonehouse team expands into St Andrews by taking on the rental portfolio from solicitors Pagan Osborne. Stonehouse now has 2,000 property assets under management with a collective value of around £445m.
Lomond is now responsible for managing a residential property portfolio of 8,700 properties worth £1.8bn billion across four UK cities.
These two deals, the 21st and 22nd undertaken by Lomond in four years, follow the recent announcement of a funding injection from private equity firm MML Capital in July.
Lomond Capital has made very public its strategy to build a regional network in the UK. It is planning to extend into Leeds later this year and south east England early in 2015.
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