Greystar acquires site for student accommodation development in Wembley Park
Client(s) Greystar Real Estate Partners, LLC
Jones Day represented a fund sponsored by Greystar Real Estate Partners, LLC in connection with the acquisition of a purpose-built student accommodation development site in Wembley Park, north London from Quintain.
Once developed, the asset will comprise 770 beds and 7,480 sq ft and 9,096 sq ft of internal and external amenity space, designed to BREEAM ’Excellent’ standard. Construction on the site has already commenced and the site is due for occupancy in September 2025. Greystar will operate the asset under its Canvas brand, which also operates an adjacent 283-bed PBSA site. Canvas is Greystar’s second UK PBSA portfolio, alongside the premium London-focused brand Chapter.
Jones Day also provided the Greystar fund advice in connection with: (i) the green loan facility for the development of the asset; and (ii) the building contract entered into by Greystar with the building contractor, McAleer & Rushe, and related suite of construction documentation.