UK developer Quintain has completed the refinancing of a build-to-rent (BTR) building at London’s Wembley Park with a £128.7 mln (€155 mln) Natixis CIB green loan.
The loan replaces the existing facility provided by Cheyne Capital to finance the construction of the property and other buildings across Wembley Park.
The Robinson is arranged across three blocks comprising 458 homes including 63 discount market rent and affordable units, ranging from studios to four-bedroom apartments.
Since breaking ground on Wembley Park 20 years ago, Quintain has completed more than 5,000 homes and is working towards creating the largest BtR neighbourhood in the UK, investing £2.9 bn to date.
Philip Slavin, Chief Financial Officer at Quintain, commented: ‘We’re delighted to have secured a new lending facility with our partners, Natixis CIB. The Robinson is an exemplar, stabilised BtR development at Wembley Park and its position within one of London’s most recognised new neighbourhoods has enabled us to achieve competitive terms for this refinance.’
Diego Sanfilippo, head of Real Estate & Hospitality UK, at Natixis Corporate & Investment Banking, added: ‘This deal showcases both our firm commitment to support our clients and our proven expertise in delivering tailored solutions for high-quality assets in prime locations and clearly represents a stepping-stone to our Real Estate lending franchise in UK.’
