From Quintain Limited
LONDON – JULY 30 2024 – Quintain Limited is pleased to announce a £755 million preferred equity commitment in its award-winning developments, led by funds from Ares Management Corporation (NYSE: ARES) (“Ares”), managed by Ares’ Alternative Credit strategy. Quintain is owned by funds managed by Lone Star Funds (“Lone Star”), which will be contributing £337 million to the preferred equity instrument.
With over £2.8 billion of investment to date, Quintain has transformed the Wembley Park estate in London into a premier mixed-used neighbourhood, with circa 5,000 homes, leading retail, modern office space, and acres of parks and pedestrianised public realm.
“Quintain is delighted to have Ares’ backing as a new partner, whilst maintaining our longstanding partnership with Lone Star, to continue to develop the world-class Wembley Park estate which already is home to the largest multifamily/build-to-rent community in the UK,” said James Saunders, CEO of Quintain.
“This is a significant next step in the evolution of Quintain’s development of Wembley Park under Lone Star’s ownership. Wembley Park is one of the largest build-to-rent schemes in the UK and a great example of ambitious place-making. In Ares, we have found a like-minded partner, and together we look forward to taking this iconic asset to its next exciting phase,” said James Riddell, Co-Head of European Real Estate at Lone Star.
“Lone Star and Quintain have built Wembley Park into one of London’s leading neighbourhoods, delivering a high-quality and sustainable real estate for thousands of residents and millions of visitors. We are excited to partner with their outstanding teams, and to provide significant new capital for Quintain to continue its journey and cement its position as a leader in London’s critically undersupplied residential rental market,” said Stefano Questa, Partner and European Co-Head of Ares Alternative Credit, who will be joining the Quintain Board of Directors as part of the transaction.
“Our team is an established leader in providing bespoke and creative capital solutions to asset-focused investment opportunities,” said Joel Holsinger, Partner and Co-Head of Ares Alternative Credit. “We believe our scale, coupled with our flexible mandate, makes Ares an ideal partner for private equity sponsors, as they seek to grow and optimize the balance sheets of their highest quality assets. We are delighted to be partnering with Lone Star in this landmark transaction for the UK market.”
WHO ARE THEY?
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2024, Ares Management Corporation's global platform had approximately $428 billion of assets under management, with approximately 2,900 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
About Lone Star
Lone Star is a leading private equity firm advising funds that invest globally in corporate equity, credit, real estate and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 24 private equity funds with aggregate capital commitments totaling approximately $92 billion. The firm organizes its funds in three series: the Opportunity Fund series; the Commercial Real Estate Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.
About Quintain
Quintain is the award-winning development and asset management company behind Wembley Park, one of London's most exciting new neighbourhoods.
Quintain celebrated its 30th anniversary in 2022, with 20 years since acquiring its interest in Wembley Park. To date, the 85-acre development has seen over £2.8bn invested and welcomes on average 16 million visitors a year.
Quintain’s award-winning residential management business, Quintain Living, focuses on the management of Quintain's institutional quality, Build-to-Rent (BTR) property management platform and pipeline. In 2022 Quintain Living was named Estate Gazette’s BTR Specialist and RESI’s Property Manager of the Year.
Can Quintain please give back the £17.8million of our NCIL money that our Labour Council gave them for their vanity project steps outside Wembley Stadium!
ReplyDeleteThis NCIL money could be used on vital local projects in our local community and would show that they do actually care about us local residents!
More Quintain BS. Don't believe the hype. The reality of living in this urban metropolis is very different.
ReplyDeleteNon-existent Park and Public Realm, Poorly managed properties, terrible internet/broadband service, grossly inflated utilities bills, cleaning not up to spec, and the wait to get your deposit returned can be up to 6 months. Swerve at all costs.
Welcoming 16 million visitors a year, don't make me laugh. I suppose they think it has nothing to do with Wembley Stadium! Leading retail and acres of park and public realm. If by that they mean the London Designer Outlet with no designers, exaggerated discount sale reductions, is just an excuse to flog last season or made just for outlet garbs. Pathetic excuse for a park, and non-existent public realm, they have their own rules and security! The whole lot should have gone to "Specsavers".
ReplyDeleteBuyer Beware. Research a must.
ReplyDeleteQuintain Living reviews on Trustpilot = 664.
Average score = 3.3
55% show 5*
42% show 2* or less
https://uk.trustpilot.com/review/quintainliving.com
A need to protect and green grow Brent Riverside Park for Wembley City residents....
ReplyDeleteWaiting for the Great Western City to in 2024 exist for administrators and corporate 'blockers', just driving west on the Westway the public sees this new cities GROWTH bit-by-bit, at present caste as poorly interconnected within and poorly infrastructured within to non-support its UK unseen tenanted population density.
A kind of Docklands but tighter packed and instead of water filled docks, railway barriers fragmenting it- maybe RAILANDS is a better name for this giant ghost city disconnected from itself by design....
£6 billion best spent tunnelling inner London to inner London for HS2?
The highlights for the investors:
ReplyDeletecreate value for our stakeholders
generate consistent and attractive investment returns
investors such as sovereign wealth funds
And for renter:
And for £4066 pcm you too can rent a three bed flat in Landsby Building, or maybe £3,751pcm for a three bedroom in Canada Gardens. If you want to know the other costs such as service charge, you can ask the agent!!!!
Isn't it wonderful the way the council and Towerblock is fixing the housing shortage in Brent? The numbers who can't afford to live in the borough anymore gets larger and larger as proved by the ever increasing numbers on the council waiting list and in temporary accommodation.
Went to London Designer Outlet this morning - shops half empty, full of clothes for midgets and staff who don't even greet you when you enter a shop let alone ask if you need any help.
ReplyDeleteCineworld is closing so what will be left there?
Cineworld Wembley isn’t closing. Fake news.
DeleteCineworld in Wembley is terrible - good riddance.
ReplyDeletePicture quality is pixelated poor, sound quality is very poor, no Dolby atmos. Customers using their phones, noisy eaters, and fidgets. Grossly inflated prices for snacks and drinks, why bother?
Invest in Home Cinema, stream Disney+ @ £7.99 per month is much better value, kids can watch the film over and over again, pause to go to the loo, and buy your snacks from Tesco or Sainsbury local at a third of the price. Better quality in the comfort of your own home.