Among the biggest is Investec, whose structured property finance team has agreed to provide Comer Homes with a £36 million, five-year senior debt facility. This will fund the development of the final phase of Mast Quay, a 204-unit riverside residential scheme in Woolwich, London.
Due for completion in December 2022, construction is already underway, with the majority of apartments benefitting from balconies offering panoramic views of the River Thames and vistas of the capital. This amounts to BTR gold-dust, as does proximity to the new Crossrail station.
It is part of a sequence of Investec bets on BTR including a separate £45 million loan to fund the development of Royal Winchester House in Bracknell into 338 units for rent (the scheme has just finished construction).
Investec’s activities are matched by HUB and specialist investor, Bridges Fund Management, who have agreed a deal with Canadian real estate investment company, Realstar, and global investors, operators and developers, QuadReal, to forward-fund their £100m Wembley Link development in North London.
Designed by Glenn Howells Architects, Wembley Link will deliver 256 high quality one- to three-bedroom homes for private rent in two 17- and 19-storey brick buildings. The deal is the second this partnership has attempted, following their first Wembley scheme – the 239-unit Chesterfield House – which completed in May 2020 and is now open and operating.