Greystar and Henderson Park’s joint venture has pulled its Ten Degrees tower in Croydon, south London, off the market.
The duo had put the 456-home scheme up for sale, alongside Equipment Works in Walthamstow, E17, for offers of more than £325m for the pair in March 2024.
The JV had appointed Savills to find buyers for the schemes, following which Equipment Works was acquired by Ridgeback for £126m in February 2025.
Ten Degrees was built by Tide Construction. It comprises two towers of 38 storeys and 44 storeys. It includes roof gardens, a podium-level sun lounge, viewing galleries, gyms, residents’ lounge, and private dining and event rooms.
Its homes are sold for rent on a variety of different tenures, including affordable housing, London living rent, rental discounts and open-market rates. Greystar manages the flats with an on-site team.
The JV’s platform was part of an exodus of stabilised BTR assets being acquired. Among other deals, Quadreal and Realstar bought Allegro in Birmingham for around £115m, while KKR purchased The Slate Yard in Salford for more than £100m.
These deals helped stabilised assets account for 48% of multi-family investment in Q1, according to data from Lambert Smith Hampton. Q1 stabilised BTR investment is up from 27% in 2024 and significantly above the previous five-year average of 15%.
LSH said the rise in stabilised transactions signals a maturing market, as more owners reach the exit points of their investment strategies.
Image © Billy Bolton/Greystar
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