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UK: Greystar is reportedly nearing a deal to buy 900 BTR apartments at Elephant Park in south-east London.
The US real estate giant is in talks with the Canada Pension Plan Investment Board and Australian developer Lendlease over a deal worth in the region of £500 million, according to the Financial Times.
The apartments are part of the Elephant Park development in Elephant and Castle, which also includes retail and public space. Lendlease has been developing the wider area and partnered with CPPIB, Canada’s largest pension fund, on the build-to-rent element.
The apartments range from studios to three-bedroom flats with amenities including a gym, lounge and landscaped gardens.
A deal for Elephant Park would rank among the largest in the UK BTR sector to date, according to Cushman & Wakefield.
In September last year, Greystar acquired Barking Wharf, a 595-unit BTR scheme in east London from Invesco Real Estate.
Eastdil Secured is advising on the Elephant Park process, the FT has reported.
Highlights:
• Greystar is reportedly nearing a deal to buy 900 BTR apartments at Elephant Park in south-east London
• The US real estate giant is in talks with the Canada Pension Plan Investment Board and Australian developer Lendlease over a deal worth in the region of £500 million, according to the Financial Times
• The apartments are part of the Elephant Park development in Elephant and Castle, which also includes retail and public space. Lendlease has been developing the wider area and partnered with CPPIB, Canada’s largest pension fund, on the build-to-rent element
