The investment loan is over a five-year term and will allow Quintain to accelerate the development of the Wembley Park masterplan and turn its attention to delivering further build-to-rent schemes in 2018.
“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,” said Jason Rodrigues, vice-president of debt strategies at TH Real Estate.
- Samsung partners with Quintain
- Boxpark set to open in Wembley
- McAleer & Rushe secures £130m Wembley Park contract
Michael Jenkins, finance director at Quintain, added: “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.”
This announcement comes just a few weeks after Quintain announced that it had partnered with Samsung Electronics to provide the most innovative digital appliances to over 3,000 Tipi rental apartments at Wembley Park.