Investec has provided a £80m loan to joint venture partners Henderson Park and Greystar to fund a 257-flat build-to-rent scheme in Walthamstow, E17.
The loan, in conjunction with its partner lender Bank of Ireland, will fund the scheme which is part of the wider £130m mixed-use Equipment Works regeneration project.
The site was acquired by the jv in January and construction work has started, with a 2021 completion date earmarked.
Half of the finance package was arranged with Bank of Ireland, with Investec providing the balance.
Joshua Weinstein, at Investec Structured Property Finance, said: “Our confidence in backing this scheme is twofold: the barriers to entry for home ownership in London are high; while in Henderson Park and Greystar we are partnering with two of the most sophisticated and credible real estate businesses currently amassing significant BTR portfolios in London.
“In relative terms, the sector in London is still nascent, but the simple supply demand dynamic for residential property favours those who are able to deliver high quality purpose built schemes in sought after locations.”
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