Greystar has secured a £96 million (€110 million) loan from AllianceBernstein’s European Commercial Real Estate Debt (ECRED) strategy to finance the acquisition and development of a residential project in the UK.
The loan will fund the development of the Crown Trading Estate, a multifamily build-to-rent (BTR) project in Hayes, Greater London.
The property once developed will comprise 318 residential units, along with a further include 89 affordable housing units, a commercial unit and over 10,000 square metres of amenity space including a lounge, gym, concierge and shared workspaces.
Source: realassets.ipe.com on the 10th of November