Henderson Park backs Greystar Nine Elms buy

Greystar has linked up with Henderson Park and Cain International to finance its £101m acquisition of the former Royal Mail depot at Nine Elms, SW8. Development of 894 flats will be funded with equity from Henderson Park and debt from a £385m six-year loan from Cain International. It is the fourth London investment from Henderson Park in partnership with Greystar. The US multifamily giant agreed to acquire 2.7 acres at plots B and D from Royal Mail in 2017. It was granted planning approval in March, and selected Telford Homes for the build. The first homes will be delivered in 2022, with full completion expected in 2024. Nick Weber, founding partner of Henderson Park, said: “This significant investment to create almost 900 new homes demonstrates our ongoing commitment to the private rented sector in London by increasing our portfolio to almost 2,000 homes.” John Cole, managing principal of Cain International, added: “We are proud to provide this substantial loan, which demonstrates our commitment to partnering in order to address market demand and our debt platform’s flexibility and firepower to provide outsized loans.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette