Greystar acquires build-to-rent scheme in Bermondsey, London
Client(s) Greystar Real Estate Partners, LLC
Jones Day advised a joint venture partnership between Greystar Real Estate Partners, LLC and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA), in its acquisition from Grosvenor of a landmark build-to-rent ("BTR") scheme in Bermondsey, London. The scheme, at the former Peek Freans biscuit factory site, will feature 1,548 exceptional homes, 150,000 square feet of flexible employment space, and extensive play and public spaces. The completed development will incorporate new homes for a range of rents, a new secondary school, and employment, cultural and retail spaces, interwoven into the neighborhood. The acquisition forms part of the new strategic partnership between Greystar and ADIA of up to £2.2 billion to develop BTR housing in London and its surrounding commuter towns.