Quintain, the developer and build-to-rent operator behind Wembley Park in London, and JPMorgan have announced a £277 mln (€309 mln) deal to finance the construction of two new residential buildings at the latest Wembley Park development site, called North East Lands.
The deal was finalised this week and marks Quintain’s largest ever development loan.
The residential buildings will deliver 769 out of the new 2,000 homes planned for the area, as well as local shops, cafés and restaurants overlooking the new 7-acre park.
Rahul Sule, co-head of JPMorgan EMEA and APAC real estate finance, said: ‘This transaction, against a backdrop of heightened market volatility and inflationary trends, highlights our commitment and capabilities in the European construction finance sector.’
