Get Living has completed the £150m refinancing of Portlands Place at East Village in Stratford with PGIM Real Estate’s European senior debt platform.
Portlands Place launched in August 2022, offering 524 new homes and amenities, including a gym and spin studio, a screening room, co-working space, dining room and roof gardens. The building is currently at 97% occupancy.
Dan Greenslade, chief financial officer at Get Living, said: “This £150m refinancing deal with PGIM is a real vote of confidence in Get Living and the wider BTR sector, at a time of wider market uncertainty. Portlands Place raised the bar for rental living and its combination of new, furnished homes and exclusive resident amenity space has seen consistently high demand since the scheme launched. We look forward to working with our new partner PGIM moving forward as we continue to deliver an exceptional resident experience.”
James Mathias, senior portfolio manager for PGIM Real Estate, added: “Despite near-term volatility, our conviction in the structural dynamics of the UK rental market and Stratford remain strong, especially given the limited options for tenants seeking high quality homes with exceptional amenities both inside and outside the building. We are delighted to begin our partnership with Get Living, the leading provider for BTR in the UK.”
