Our Real Estate team has advised Quintain on securing a £188.8 million loan under the UK Government's Private Rented Sector Guarantee Scheme (PRSGS), supporting two Build-to-Rent (BtR) developments at Wembley Park in north-west London.

The financing, provided by investment manager Venn on behalf of the UK Government, will support the stabilisation of Luna and Solar, two neighbouring BtR assets comprising 665 homes within Quintain's 85-acre mixed-use Wembley Park estate.

The loan was funded through a public tap of the PRSGS's existing 2030 floating rate bond series, which is government-guaranteed and designed to provide stable, cost-effective capital to the UK's growing BtR sector.

Luna and Solar represent the latest additions to Quintain Living, the developer's professionally managed rental platform, and form part of one of the UK's largest and most established build-to-rent neighbourhoods.

The Gowling WLG team was led by Real Estate Partner Nick Mumby, supported by Senior Associate Zoya Khan.

Nick Mumby said: "Quintain continues to demonstrate its ability to secure innovative, large-scale funding solutions in challenging market conditions. This transaction is a strong example of how government-backed financing can play a critical role in supporting the delivery and stabilisation of high-quality build-to-rent assets at scale.

"We are delighted to have supported Quintain on this important milestone for Wembley Park, a development that continues to set the benchmark for institutional rental housing in the UK."

Clare Morgan, Head of Corporate Finance & Treasury at Quintain said: "We are incredibly proud of this innovative financing structure, which will support us through to the stabilisation of our two newest buildings in Wembley Park. Luna and Solar are state-of-the-art developments, offering residents a wide range of indoor and outdoor communal spaces, health and wellness amenities, and events designed to bring neighbours together.

"Navigating large-scale financings in highly volatile markets is always a challenge and the successful execution of this transaction, in partnership with our legal advisers, will ensure that we have sustainable, fit-for-purpose financing in place to support these assets through the coming years."