Maslow Capital Provides €88.8 Million Landmark Loan for Orwell Real Estate and HGP’s 492-Unit Build-to-Rent Project in Basildon
Maslow Capital has completed a €88.8 million development loan to fund a landmark Build-to-Rent (BTR) project in Basildon town centre. Introduced by real estate debt advisors Karis Capital, the scheme will be delivered by a joint venture between Orwell Real Estate and Housing Growth Partnership (HGP), comprising 492 residential units, 1,218 sq m of shared residential amenities, and 1,651.7 sq m of commercial space, significantly contributing to Basildon’s €720m regeneration masterplan.
The development, located near Basildon’s main train station, will comprise three interconnected mid-rise towers ranging from 12 to 17 storeys, connected via a ground-floor podium. Offering a mix of one- and two-bedroom apartments, the scheme will provide extensive amenities, including five outdoor terraces, a gym, and co-working areas. The site’s proximity to major transport links enables convenient access to central London within 35 minutes, making it an attractive option for commuters.
This Build-to-Rent scheme represents a positive response to Basildon’s housing undersupply, currently estimated at approximately 53%, according to Basildon Borough Council’s latest Five Year Housing Land Supply Update (2024–2029). Beyond meeting housing needs, the scheme will target an EPC rating of A or B and integrate renewable technologies such as Air Source Heat Pumps, highly efficient LED lighting, and an ambient loop system for heating and hot water, reflecting a strong commitment to sustainability.
The project which had €14.4 million of equity injected by HPG, has been forward-sold to Starlight Investments, highlighting its attractiveness to institutional investors engaged in the UK’s flourishing Build-to-Rent sector.
The €88.8 million landmark loan was successfully delivered after Karis Capital partnered with Maslow Capital to bring the deal to fruition. Orwell Real Estate has been a longstanding client of Karis Capital’s, with this being the fifth project they have worked together on since 2019.
James Hutchinson, Investment Director at Housing Growth Partnership commented: “At HGP, we believe in backing ambitious projects that not only address local housing shortages but also enhance the quality of life for residents. By partnering with Orwell Real Estate, we are supporting a transformational Build-to-Rent development that accelerates Basildon’s town centre regeneration story.”James Hutchinson, Investment Director at Housing Growth Partnership
“We look forward to delivering this landmark scheme, which sits at the heart of Basildon’s €720m regeneration. By partnering closely with Maslow Capital and other key stakeholders, we have combined our extensive market knowledge and commitment to quality to bring this complex, multi-phase project to life—ultimately providing much-needed homes and lasting benefits for the local community.”Neil Strelitz MRICS, Co-founder of Orwell Real Estate
“We are delighted to support this bold vision for Basildon’s regeneration, marking another milestone in Maslow Capital’s dedication to forward-thinking, sustainable developments. This is an exciting opportunity in a thriving Build-to-Rent market, and we are proud to collaborate with like-minded partners who share our vision for the UK and Europe’s housing supply.”Emma Burke, Head of Origination at Maslow Capital
“Facilitating the capital for a landmark project like this exemplifies Karis Capital’s commitment to supporting high-impact developments brought forward by experienced sponsors and backed by a funding partner with a leading reputation. We’re proud to support this transformative project, fully confident that it will address Basildon’s urgent housing needs while setting a strong precedent for future regeneration efforts.”Craig Scott, Managing Director at Karis Capital
