Sale of stake in Wembley Park will test the appetite for UK rented residential.
The LDA has confirmed two major schemes, one in Dublin with Quintain and another in County Limerick, as first-quarter housing completions slowed.
Lone Star is set to sell Quintain Ireland to TPG, while PGIM Real Estate has provided new debt for Hines and APG at Cherrywood.
An economic experiment at Wembley Park bodes well for the growth of the build-to-rent sector
Lone Star weighs cashing in on Quintain.
Lone Star has pivoted from build for sale to build to rent before
Ares' investment in Wembley Park will allow Lone Star and Quintain to complete the scheme and pay down debt.
The sale of a 295-apartment block for £170M would represent a yield of 4.25%.
With a new owner and a five year platform of land and planning permissions for residential development, Quintain Ireland's CEO is set to fast track construction
Lone Star is likely to make a big profit when it exits Quintain
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