Quintain secures Alto loan

By James Buckley - Thursday, April 12, 2018 12:15

Quintain has secured a £36m, five year investment loan from TH Real Estate on its second build to rent development, Alto, at Wembley Park.

The refinancing allows Quintain to accelerate the development of the Wembley Park Masterplan and look ahead to the delivery of further build-to-rent buildings in 2018 and beyond.

Jason Rodrigues, Vice President of Debt Strategies at TH Real Estate said: “TH Real Estate recognises the long-term fundamentals driving the growth in the build-to-rent sector and is delighted to support Quintain and its best-in-class Tipi platform with the financing of this attractive, modern scheme.”

Michael Jenkins, Finance Director at Quintain said: “This financing represents an important milestone for Quintain and Tipi, marking the completion and leasing of our second build to rent development. The deal is a clear indicator of the confidence that lenders have in Quintain and our ability in the sector. We are building rental homes faster than any other developer and transforming Wembley Park into a world class destination for Londoners to live, work and visit.”

The news comes just a few weeks after the announcement that Quintain and Samsung Electronics have signed a multimillion pound deal to provide the most innovative digital appliances in the market to over 3,000 Tipi rental apartments at Wembley Park. This deal marks Samsung’s global first hardware subscription deal within the build to rent market.

Quintain is delivering the UK’s largest build-to-rent development at Wembley Park with over 5,000 homes managed by its residential management company, Tipi.

jbuckley@costar.co.uk

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