Realstar inks £42m loan for Uncle Southall

Realstar has secured a £42m loan from PRS Finance for its 166-home Uncle Southall scheme. The facility is the fifth from the ARA Venn subsidiary, bringing the total deal value to £300m. PRS Finance operates the £3.5bn private rented sector housing guarantee scheme for the UK government, which supports the growth of BTR with long-term financing. Uncle Southall is Realstar’s seventh scheme in the UK and comprises two towers of 17 and 20 storeys next to the new Crossrail station. Realstar bought the development from Redrow at the start of 2019. Macfarlanes advised Realstar. Partner Jat Bains said: “It is pleasing to see the continued relationship between Realstar and ARA Venn delivering thousands of new homes and further developing the build-to-rent market.” To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Photo © Uncle