The Pinnacle Residential Fund, managed by Pinnacle Investments, has acquired a market rent asset, with assistance from Secure Trust Bank Real Estate Finance. The newly formed residential property fund secured a £4.2million loan to fund the purchase of The Residence, at Lurke Street, Bedford.

Chris Turnbull, managing director of Pinnacle Investments, said: "The Residence is newly finished to a high specification. It is in the heart of Bedford and less than a mile from Bedford Station, with services to London, Milton Keynes and Luton Airport. It has first class amenities right on the doorstep, in a market underserved by good quality rental stock.

"We didn't anticipate completing our first acquisition during a national lockdown, but with the help of Secure Trust Bank Real Estate Finance we were able to get the deal over the line."

James Conolly, London-based relationship director for STB REF, said: "It has been great working with Chris and his team to help Pinnacle achieve this landmark first acquisition. We look forward to working with the fund as it seeks to build its portfolio."

Paul Carmody of Outside the Box Capital Solutions and Anand Jogia of Impera Advisors Ltd advised Pinnacle Investments on the deal.

Pinnacle gets out of the blocks with help from Secure Trust Bank Real Estate - Secure Trust Bank

For more information on the strategy and our investment requirements, please feel free to get in touch with Andrew Wilson (Andrew.wilson@pinnacle.investments)