The buildings, which include 490 homes, have been sold to KKR as part of the global investment firm's European core-plus real estate strategy. Quintain has been retained by KKR to operate the two assets.
Quintain's Wembley Park is regarded as one of London's most exciting new neighbourhoods, and with 6,000 homes it will be the largest build-to-rent site in the UK. It also has outlined permission for 10.3 million sq ft of mixed-use development and to date has seen over £2.8 billion of investment.
The DACB team advising Quintain was led by partners Michael Pearce, Steven Pitchford and Alison Key.
Quintain's chief executive, James Saunders, said, "This deal underlines our commitment to recycling capital from non-core and stabilised assets to reinvest in new homes at Wembley Park, where we have two new buildings underway and on track to be delivered by 2025. This marks the first step in the roll-out of our Quintain Living management platform to third-party operators."
Alison Key, head of DACB's Real Estate team and Client Relationship Partner for Quintain, commented, "I am incredibly proud of the key role our team has played in such a significant, complex and high profile transaction in the London commercial real estate market. It is an excellent result, and one that demonstrates our expertise and our commitment to providing high-quality advice to clients in London and across the UK."
