Apache Capital and Nuveen Secure £125M Refinancing from United Overseas Bank for Cambridge Single-Family Rental Scheme
Apache Capital and Nuveen have secured a £125 million, two-year refinancing from United Overseas Bank (UOB) for Present Made, Eddington, a 373-home single-family build-to-rent development in Cambridge, the firms announced July 13, 2026.
The facility replaces a previous development loan provided by BGO and marks the transition of the asset from construction financing into a post-completion structure. Present Made, Eddington achieved full practical completion in the fourth quarter of 2025 following a phased development.
UK's First Purpose-Built Single-Family Rental Scheme
Present Made, Eddington is described by Apache Capital as the UK's first purpose-designed single-family housing scheme built from the ground up for rent. The development comprises 373 smart, energy-efficient homes and forms part of the University of Cambridge's 150-hectare North West Cambridge masterplan, situated approximately two miles north-west of Cambridge city centre and adjacent to the University's West Cambridge research campus.
The scheme is operated by Apache Capital's in-house platform, Present Made, with Nuveen Real Estate serving as Investment Advisor. Nuveen and Apache Capital formed a single-family build-to-rent joint venture in 2023 to fund the development.
On-site amenities include a pavilion and rooftop terrace, a gym, dedicated workspace, a cinema room and a children's playground. The development targets net-zero operational carbon through precision engineering and smart technology. Present Made, Eddington was named Best Single Family Housing Development at the 2025 Love to Rent Awards and is shortlisted for Development of the Year at the 2026 Property Week RESI Awards.
Refinancing Replaces BGO Development Facility
The £125 million UOB facility retires the development loan previously held with BGO. Apache Capital and Nuveen characterized the refinancing as the next phase of the joint venture's strategic plan to maximize value for both partners and their investors.
The wider Eddington masterplan, within which the scheme sits, includes schools, retail, expansive green space and other amenities, integrated into a wider urban village.
John Dunkerley, founder and chief executive of Apache Capital, said: "Present Made, Eddington is a template for how similar urban extensions can blend different types of rental and for-sale housing. The provision of different services and, above all, the friction-free experience we give our customers should be what all rental schemes look to offer. With growing interest in Cambridge, and growing momentum around major science and technology companies in the region, we continue to see a deep well of demand from families and high-skilled workers who rightly want a better rental experience than is often found in the market."
Lender Cites Green Finance and Sustainable Housing Demand
United Overseas Bank framed its participation in the deal around sustainable finance. Ms Lim Lay Wah, Head of Global Financial Institutions Group, Overseas Branches and ESG Strategy of UOB, said: "As the demand for high-quality, sustainable housing solutions continues to grow, well-structured green financing plays an increasingly important role in supporting the development and scaling of such assets. We drew on our sustainability expertise to deliver financing solutions for Apache Capital and Nuveen Real Estate to advance their sustainable development initiatives in the UK, while supporting the long-term performance of quality real estate assets."
Jasper Gilbey, Head of Housing and Alternatives, Europe at Nuveen Real Estate, said: "We are delighted to have successfully completed the refinancing of our flagship single-family housing development in Cambridge – Present Made, Eddington. The strong lender demand reflects the high-quality of the scheme as well as its strategic location in one of the UK's most prominent growth markets, Cambridge. An excellent result delivering practical completion and the refinancing ahead of business plan – a great collaborative effort between the Nuveen and Apache teams."
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