The finance will be used to fund the delivery of a 257-unit build-to-rent (BTR) scheme in Walthamstow, east London.

The development will be located at the three-acre, £130m Equipment Works mixed-use regeneration scheme, with construction scheduled to be completed by 2021.

The project aims to transform the current warehouses into a residential-led, mixed-use development.

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“Our confidence in backing this scheme is twofold: the barriers to entry for home ownership in London are high; while in Henderson Park and Greystar we are partnering with two of the most sophisticated and credible real estate businesses currently amassing significant BTR portfolios in London,” said Joshua Weinstein at Investec Structured Property Finance.

“In relative terms, the sector in London is still nascent, but the simple supply-demand dynamic for residential property favours those who are able to deliver high-quality, purpose-built schemes in sought-after locations.”

Andrew Pendered, head of property finance GB at Bank of Ireland, added: “This BTR transaction presents an excellent opportunity to assist with the acquisition and development of this premium product in Walthamstow and we look forward to continuing to build on these relationships further.”

Nick Weber, founding partner at Henderson Park, also stated that the loan would help to deliver “first-class homes into a newly established neighbourhood”.