Henderson Park and Greystar acquire fourth London investment

Henderson Park and Greystar Real Estate Partners have acquired a site located at the former Royal Mail depot in Nine Elms, London, for £101 million ($128 million), which they intend to develop into an 894-unit build-to-rent residential scheme, as they continue to build their private rented sector (PRS) portfolio.

“The London market is significantly undersupplied when it comes to these types of developments, and existing rental homes are often outdated or poorly managed,” said Mark Allnutt, senior managing director U.K. of Greystar. “This development at Nine Elms will ensure we continue to be part of London’s housing solution, creating thousands of much-needed, high-quality homes for an ever-increasing number of renters.”

The development is fully funded with equity from Henderson Park and Greystar, and a £385 million ($489 million), six-year whole-loan facility provided by investment firm Cain International.

This is the fourth London investment that H