BTR lending market springs to life with landmark deals

摘要

The lending market for build-to-rent (BTR) development has seen a number of landmark deals that suggest lenders are finally embracing the asset class. A fortnight ago. Apache Capital Partners and Moda Living secured an £85m loan from Deutsche Pfandbriefbank for its Angel Gardens scheme in Manchester (pictured) - thought to be the largest-eve r debt deal for a single BTR scheme. The deal followed hot on the heels of a £60m loan to fund Essential Living's Creekside Wharf scheme in south London from Royal Bank of Scotland (RBS) and HSBC late last year and Quintain's £800m corporate development facility with Wells Fargo, AIG and Canada Pension Plan Investment Board to fund its building plans at Wembley Park, which will include a large amount of BTR.