We have advised mixed-use regeneration and build-to-rent (BTR) specialists Quintain on its sale of the Alto, Montana and Dakota BTR buildings at Wembley Park to Goldman Sachs Asset Management and Tene Living.
The Alto, Montana and Dakota buildings, which were developed and operated by Quintain, comprise 261 residential apartments and will be managed by Tene Living. The sale marks the first instance of Quintain streamlining the rental offering at Wembley Park.
The team from Gowling WLG that advised Quintain was led by real estate partner Nick Mumby and corporate partner Micky Yang, with support from partners Matthew Poole (tax), David Lowe (commercial), principal associate Edmund Willis, associate Charles Russell, solicitor apprentice Yasmin Samaroo (real estate), senior associate Nim Tank (commercial), associate Lewis Broome (corporate) and associate Michael Tushingham (tax).
Nick Mumby, co-lead of the Gowling WLG BTR sector, commented: "We are delighted to have supported the Quintain team on this disposal. It is a great example of the strength of the secondary market in the BTR sector and reinforces the prime status of Wembley Park."
James Saunders, chief executive of Quintain, said: "This deal is part of our strategy to sell stabilised build-to-rent buildings and recycle capital and underlines our commitment to delivering hundreds of new homes at Wembley Park, alongside retail, leisure and public realm. We were delighted that Montana, Dakota and Alto leased so quickly when they were launched to market and are proud of the stabilised assets they quickly became."
Gowling WLG has a dedicated mixed-use development team with experience in advising developers on their mixed-use projects and is home to one of the UK's largest real estate practices. For further information, please visit our real estate sector page.