TH Real Estate has provided £36m to Quintain for the development of its second build-to-rent scheme at Wembley, north London.
The five-year investment loan for the Alto building will help to accelerate the progress of the Wembley Park Masterplan.
Michael Jenkins, finance director at Quintain, said: “This financing represents an important milestone for Quintain and Tipi, marking the completion and leasing of our second build-to-rent development.
“We are building rental homes faster than any other developer and transforming Wembley Park into a world-class destination for Londoners to live, work and visit.”
The news comes after Lone Star appointed Eastdil and Credit Suisse to begin looking into the sale of its 6,000-home development at Wembley Park. Some 5,000 of these will be for rental and managed by Tipi, its managing agent.
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