Bidders shortlised for acquisition of Wembley Park regeneration leader

Four contenders have made it to the second round of the acquisition battle for Quintain, the force behind the regeneration of Wembley Park.

Delancey’s Get Living, Greystar, LRC Group and Grand City are all in the running to take over Lone Star’s Quintain which currently has a £2.3bn price tag.

Dallas-based private equity group, Lone Star, appointed Credit Suisse and Eastdil Secured in March, to look into the sale of Quintain, which it bought in 2015 for about £1 billion including debt.

Quintain is leading the massive 85-acre Wembley Park regeneration and has awarded £1.7bn in construction contracts for the site. The most recent was a £161.5m deal with Wates Construction for 633 new homes. Click here to read more.

A preferred partner is likely to be picked next month with completion coming in the final quarter of the year.

The bidders:

Delancey’s Get Living: A partnership between Qatari Diar, owned by the Qatar Investment Authority, and clients of Delancey, a London-based, UK-focused property investment, development and asset management advisory firm. It launched in 2013 and rents out 1,439 homes on the former Olympic Village, now known as East Village. The partnership has widened to include Dutch pension fund asset manager, APG, and Oxford Properties.

Greystar: Founded in 1993 by Bob Faith in response to a highly fragmented multifamily industry that he believed was more focused on assets than people. He envisioned the need for an industry leader, a blue-chip company that operated with the highest integrity and character in delivering world-class services to residents, property owners and investors in multifamily real estate.

LRC Group: An opportunity-driven investment group, LRC has sourced and acquired €5.3bn of real estate assets across Europe. LRC specialises in structuring and executing portfolio transactions from distressed situations and turning them around through strong in-house asset management with a solid, demonstrated track record.

Grand City: A specialist real estate company focused on investing in and managing value-add opportunities in the German real estate market. The group’s business model is focused on the German real estate markets that it perceives will benefit from investment to support stable profit and growth opportunities in the future. Grand City Properties brings its assets to their full potential through processes of modernizations and intensive tenant care management.

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