Canadian investment giant Realstar has signed two financing deals for build to rent (BTR) schemes in London as part of its BTR-led investment strategy that means it is currently developing over 1,000 apartments in the capital.
The first is a £55 million development facility provided by Lloyds Bank Commercial Real Estate, and has been established to help finance the £100 million scheme at Chesterfield House in Wembley – which will comprise two BTR towers, with 239 apartments, retail space and a community centre.
The second is a £45.8 million facility provided by Venn Partners, which will be used to refinance two BTR New Cross properties — New Cross Gate and Empire Heights — that comprise one, two and three-bed residential units.
Both assets will be managed and leased under Realstar’s UNCLE brand. Realstar was advised on the deals by Macfarlanes law firm.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.
