Quintain has successfully secured a £36m, five year investment loan from TH Real Estate on its second build to rent development, Alto, at Wembley Park.
The refinancing allows Quintain to accelerate the development of the Wembley Park Masterplan and look ahead to the delivery of further build-to-rent buildings in 2018 and beyond.
Jason Rodrigues, Vice President of Debt Strategies at TH Real Estate said:
TH Real Estate recognises the long-term fundamentals driving the growth in the build-to-rent sector and is delighted to support Quintain and its best-in-class Tipi platform with the financing of this attractive, modern scheme.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. The deal is a clear indicator of the confidence that lenders have in Quintain and our ability in the sector. 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.More about TH Real Estate LINK
TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $109bn in AUM as at 31 December 2017. Managing a suite of funds and mandates spanning both debt and equity across diverse geographies, sectors, investment styles and vehicle types, we provide access to every aspect of real estate investing.