Cheyne Capital Real Estate has provided a £143 mln (€168 mln) development loan to Riverstone, a developer and operator of over-65s living solutions in London, for its latest residence on The Bishops Avenue, Hampstead Heath, North London.
This is the third such loan that Cheyne has made to Riverstone, the first being for the Fulham Riverside scheme in 2021, which has since been repaid, and the second for the Riverstone Kensington development in 2022.
The Bishops Avenue scheme will consist of 93 apartments in addition to amenities such as a concierge, chauffeur service, spa treatment rooms, cinema, restaurant, bar and recovery/physiotherapy suite.
Filippo Alessandria of Cheyne Capital said: 'We are very pleased to continue supporting Riverstone with their development of best-in-class later living schemes following the success of the Fulham and Kensington residences.
'We particularly celebrate Riverstone’s focus on sustainability, and we look forward to seeing the entirely fossil fuel-free development on The Bishops Avenue come to life.'
John Clark, Riverstone chief financial officer, said: 'The demand for new and innovative later living options continues to grow across London, and we are very pleased to be further strengthening our relationship with Cheyne Capital, who share our vision to deliver exceptional residences in prime London locations.
'Our continued focus is to develop residences that are at the forefront of sustainability with strong social value credentials working with the local community. We look forward to opening Riverstone Bishops Avenue in 2025.'
