London Wall Lending, an alternate real estate debt provider, has completed a £34.4 mln (€40 mln) acquisition and development loan to Dandi to fund 160 new units in Brent, UK.
The funding will finance the new build and redevelopment of a former commercial site to a flexible stay property in Brondesbury Park. The completed development will comprise 160 flexible stay units and shared amenity spaces, including a gym, resident’s lounge, bar, and cinema room.
With a total development value of £47.5 mln, the scheme is expected to be completed in late 2023.
Ned El-Imad, partner at London Wall Lending, said: ‘Dandi’s work in creating accessible urban, residential options aligns with our appetite to fund developments in key commercial areas that are growing economically, so it made perfect sense to facilitate their development in Brent. London, and its surrounding areas, are continuing to experience significant and increasing demand for modern housing, and this scheme will help satisfy this need in a vibrant neighbourhood.’
Headquartered in London, Dandi develops and manages institutional scale multi-family, build-to-rent, and flexible living assets, focusing on up-and-coming areas in major cosmopolitan markets.
London Wall Lending is an alternative lender, specialising in development loans across the real estate sector. Part of the London Wall multi-family office, the firm is backed by more than 40 UHNW individuals from around the world and has provided £320 mln in funding to date.
