Quintain, the developer behind the transformation of Wembley Park, has successfully completed a £150.9m financing package with Goldman Sachs to deliver 396 new rental homes across three new buildings at the North West London site.

The financing deal secures the development of two neighbouring plots (NW09 and NW10), located next to Boxpark Wembley, within the 8,500 home Wembley Park masterplan.

James Saunders, CEO at Quintain commented:
“Completing our latest funding round with Goldman Sachs marks a fantastic start to 2020. Their teams’ understanding of the Build to Rent (BtR) market and adaptability has enabled us to secure a financing structure tailored to our specific needs. The funding will continue the transformation of Wembley Park as we head into one of our most exciting years yet with Euro 2020 and the launch of the London Borough of Culture over the comings months.”

Chris Semones, at Goldman Sachs added:
“We are delighted to be backing Quintain in Wembley Park. This transaction continues our originate-to-hold strategy for large loans against high quality projects with excellent sponsorship. In particular, this loan extends our recent track record of investing in U.K. BtR projects that are supported by strong underlying demand fundamentals. This transaction brings our total European credit investing over the past three years to $1.4bn through our real estate debt funds, Broad Street Real Estate Credit Partners.”

The backing from Goldman Sachs marks Quintain’s third successful financing deal over the last 12 months, with a total of £438.5m secured since March 2019.