Precede Capital, Carlyle and Apollo have funded a loan to Moda Living for the development of a BTR scheme in Nine Elms.
£251m five-year whole-loan facility to Moda Living. The facility will be used to finance the development of a 467-home build-to-rent scheme in Nine Elms, London, including 30 Discounted Market Rent homes and 103 affordable rent homes to be managed by Paragon Asra Housing. The scheme is scheduled to be delivered in Q2 2025, with construction undertaken by London Square.
The loan facility was originated, arranged and funded by Precede Capital in partnership with global investment firm Carlyle and funds managed by global alternative asset manager Apollo Global Management.