The partnership between Précis Capital and Carlyle will finance development loans in the residential asset class, where the acute long-term structural undersupply within the UK’s housing market continues to present compelling investment opportunities, and has already completed its first two loans, with a cumulative value of over £330 million
The facility will be used to finance the development of a 467-home build-to-rent scheme in Nine Elms, London.
The scheme is due for completion in the second quarter of 2025.
Located opposite the US Embassy Battersea neighbourhood, the three-site development forms the last stages of the regeneration at the 14-acre site of the former Royal Mail delivery office and mail centre.
Randeesh Sandhu, co-founder of Précis Capital, said: “The inaugural two loans extended through our partnership with Carlyle, both in collaboration with Apollo, demonstrate the kind of complex and large-scale financings we can provide to high-calibre borrowers.”
Johnny Caddick, chief Executive at Moda Living, added: “We are delighted to be working with Précis Capital and Carlyle on this world-class masterplan in the iconic Nine Elms neighbourhood. This will be our first development in London, and the site alongside the new US Embassy in such a landmark regeneration area is the perfect place for our flagship scheme. With our core brand proposition focused on unparalleled customer service, resident wellbeing, technology, community and ESG we aim to attract a broad demographic of members from across the capital and beyond.”
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