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Greystar commences transformative build-to-rent scheme in Bermondsey, London

September 2024

Client(s) Greystar Real Estate Partners, LLC

Jones Day advised a joint venture partnership between Greystar Real Estate Partners, LLC and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA), on the progression of their landmark development in Bermondsey, London, including the appointment of leading construction firms, McLaren, McAleer & Rushe and Sisk, to simultaneously construct four key buildings to deliver 1,286 new homes, the sale of part of the scheme to London Square to develop 338 Social Rent homes which will be operated by Square Roots as registered provider and a £600 million debt facility from a consortium of four lenders, Standard Chartered Bank (SCB), First Abu Dhabi Bank (FAB), Oversea-Chinese Banking Corporation (OCBC), and Emirates NBD (ENBD).  The first homes are expected to be ready for occupation in the Autumn of 2025 and the whole scheme is expected to be complete in the second half of 2027.

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