Precede Capital provides loan to joint venture for development of Enclave Acton.
£105 million three-year whole-loan facility to a joint venture between BlackRock and Outpost Management. The loan will be used to fund the acquisition and development of Enclave Acton, a multifamily build-to-rent development scheduled for completion in August 2025.
The scheme, which will comprise 462 self-contained studio units in a 32-storey building, is located in the heart of an area where demand for residential property significantly outweighs supply.
The financing is provided through Precede’s partnership with QuadReal.