By Jess Jones
A £277m financing deal between development company Quintain and investment bank J.P. Morgan Chase will provide 769 new homes at Wembley Park.
74 percent of Quintain’s two new residential buildings, expected to be completed by early 2025, will be ‘Build-to-Rent’. Shops, cafes, restaurants and a 7-acre park are also in the works.
The largest construction contract to date at Wembley Park is “yet another sign of the financing market’s confidence in Quintain”, says James Saunders, CEO of Quintain.
The Build-to-Rent operator has achieved a 99.5 percent lease level across their entire portfolio, with 1,968 new tenants – nearly a 60 percent increase on last year.
Danielle Bayless, COO of Quintain Living, said it was a “huge accomplishment” for the company.
“Hitting these strong numbers shows exactly what BtR can bring to the UK market and how it differs from a traditional rental model.”
Quintain’s solid record of delivering and managing Build-to-Rent homes in London was “one of the key reasons driving our interest” in the deal, according to Rahul Sule, Co-head of J.P. Morgan EMEA and APAC Real Estate Finance.
In December, as the Repton Gardens residential building is launched, Quintain will add another 396 homes to their portfolio.
The post £277m financing deal between Quintain and J.P. Morgan to provide new homes at Wembley Park appeared first on CityAM.
