**Eldridge and Starwood Capital Provide £193.5M Loan for London’s Embassy Gardens Development**
Eldridge Real Estate Credit, the real estate investing arm of Eldridge Capital Management, along with controlled affiliates of Starwood Capital, has extended a £193.5 million (approximately US$261 million) loan to developers Ballymore Group and Penta Real Estate. The financing will support the development of The Capston, a luxury residential project located in London’s Nine Elms neighborhood on the south bank of the River Thames.
The Capston, comprising 247 residential units, marks the final phase of the Embassy Gardens mixed-use development—a prominent regeneration project in the area. Featuring high-end apartments, lifestyle amenities, and access to the River Thames, the development aims to set a new benchmark for modern urban living in the capital.
“We believe The Capston represents the absolute best of the residential market—offering its community access to unparalleled amenities, thoughtful design, and an elevated living experience,” said Graham Keable, Managing Director at Eldridge Capital Management. “As we enter into our sixth partnership with Starwood Capital, we look forward to building on our existing relationship to deliver another premier development that sets a new standard for modern luxury.”
Based in New York, Eldridge Real Estate Credit focuses on real estate investments across the U.S., UK, and Europe. The platform actively seeks opportunities involving term, construction, transitional, and special situation loans across the capital structure. To date, Eldridge has originated over $11 billion in loans across these markets.
The investment further solidifies the partnership between Eldridge and Starwood Capital and underscores continued interest in high-quality real estate developments in major international cities such as London.
