LONDON-Grosvenor and Native Land have acquired a residential parcel at Alpha Place in Chelsea for an amount of GBP 50 million. The joint venture partners have also obtained a GBP 90-million facility to finance the construction of 100,000 square feet of residential complex on the site.
Grosvenor and Native Land bought the 0.8-acre site from Simon Davidson and Jon Gershinson of Allsop. Construction is scheduled to start in summer 2012 and it will be completed in spring 2014. For the full story, go to Europe Real Estate .
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