Quintain has completed the refinancing of The Robinson build-to-rent (BTR) scheme at Wembley Park, securing a £128.7m green loan from Natixis CIB.
Quintain said the loan represented a significant deleverage on the existing facility and would refinance out Cheyne Capital, who supported the developer by providing the original development financing for the construction of the asset.
The Robinson, which is managed by Quintain Living, is arranged across three blocks and comprises 458 homes, including 63 discount market rent and affordable units.
As a result of being within the top 15% of residential assets in the UK in terms of energy efficiency (as expressed in kWhPED/m²), The Robinson qualifies for Natixis CIB green loan status.
Philip Slavin, chief financial officer at Quintain, said: “We’re delighted to have secured a new lending facility with our partners Natixis CIB. The Robinson is an exemplar, stabilised BTR development at Wembley Park and its position within one of London’s most recognised new neighbourhoods has enabled us to achieve competitive terms for this refinance. This reflects both the sector and the neighbourhood’s desirability in real estate lending.
“We are particularly delighted to achieve green loan status with Natixis CIB and be recognised for our ongoing commitment to sustainable development. The new facility consolidates our existing debt exposure and strengthens our balance sheet to ensure a stable platform for ongoing excellence at our Wembley Park site.”
Diego Sanfilippo, head of real estate and hospitality UK, at Natixis Corporate & Investment Banking (CIB), added: “We are pleased to have partnered with Quintain in the green financing of The Robinson in Wembley Park, an environmentally friendly BTR property with strong long-term ESG fundamentals. This deal showcases both our firm commitment to support our clients and our proven expertise in delivering tailored solutions for high-quality assets in prime locations and clearly represents a stepping-stone to our real estate lending franchise in UK.”
John Coburn, partner at A&O Shearman, which represented Quintain, said: “The team at A&O Shearman are delighted to advise Quintain on their latest financing for the Robinson in Wembley Park. We have been fortunate to have worked with Quintain on a variety of successful projects such as this. We take immense pride in acting for clients who are known to be best in their class, and we look forward to continuing to collaborate with and support Quintain on their future endeavours.”
Naveen Vijh, partner at BCLP, which represented Natixis CIB, added: “BCLP are delighted to have advised Natixis on this important green financing to Quintain for one of the most exciting projects in London. We are proud to have advised Natixis on this project which is another milestone in their continued growth in the UK real estate finance market.”
