Greystar Secures £600 million Debt Facility for Bermondsey Project

London, UK – 8 October 2024 – Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing, today announces the close of a circa £600 million debt facility, secured through a consortium of four lenders: Standard Chartered Bank (SCB), First Abu Dhabi Bank (FAB), Oversea-Chinese Banking Corporation (OCBC), and Emirates NBD (ENBD) for the Bermondsey Project, a transformative development that will provide 1,624 new homes for rent in South London. 

Construction began earlier this year, with the first homes expected to be ready for occupation in the Autumn of 2025 and the whole scheme expected to be complete in the second half of 2027. Greystar’s vision for the Bermondsey Project extends beyond just housing, with an emphasis on creating a vibrant and sustainable new neighbourhood integrated into the existing local community. 

Mark Allnutt, Executive Director, Europe Investment Management Leader, Greystar: “This landmark development reinforces our commitment to delivering high-quality housing across all segments, from market-rent homes to social housing, while also creating new opportunities for businesses and the local community. We are pleased to have closed this debt facility and secured partnerships with leading contractors, who each bring unique expertise and a strong track record in delivering complex urban developments. Their contributions will be instrumental in ensuring that the project meets our ambitious goals, not only in delivering homes, but also creating dynamic spaces that reflect the heritage and future potential of Bermondsey.”

Ronan O'Dowd, Global Head, Commercial Real Estate, Standard Chartered, said: “We are thrilled to have supported Greystar in the financing of this landmark residential project in the heart of London. This development is one of the largest regeneration projects in the city and represents a significant investment in the future of the London’s housing market. We look forward to seeing it become a vibrant part of London’s urban landscape.
 

Enquiries
FGS Global
Gordon Simpson / James Gray / Ellen Donald
Greystar-LON@fgsglobal.com 


About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates approximately $320 billion of real estate in 249 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 966,700 units/beds globally, and has a robust institutional investment management platform comprised of $78 billion of assets under management, including over $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.