A £125m refinancing has strengthened property investment in one of the UK's most established single-family rental developments, with Apache Capital and Nuveen Real Estate securing a new two-year facility from United Overseas Bank (UOB) for Present Made, Eddington in Cambridge.
The financing replaces the previous development loan provided by BGO and marks the next stage in the partners' strategy for the completed scheme. Apache Capital operates the development through its in-house platform, Present Made, while Nuveen Real Estate acts as investment advisor.
Present Made, Eddington forms part of the wider Eddington urban extension, around two miles from Cambridge city centre and next to the University of Cambridge's West Cambridge research campus. The scheme reached full practical completion during the final quarter of 2025 after a phased delivery programme, bringing 373 homes to the Cambridge rental market.
The development is recognised as the UK's first purpose-built single-family housing scheme, with every home designed specifically for the rental sector. Alongside the homes, residents have access to shared facilities including a pavilion and rooftop terrace, gym, dedicated workspace, cinema room and children's playground.
The scheme won Best Single Family Housing Development at the 2025 Love to Rent Awards and has also been shortlisted for Development of the Year at the 2026 Property Week RESI Awards.
Property investment supports long-term rental strategy
Present Made, Eddington sits at the heart of the University of Cambridge's 150-hectare North West Cambridge masterplan, an urban extension that also includes schools, retail space, extensive green areas and other community amenities. The development also targets net-zero operational carbon through precision engineering and smart technology.
Nuveen Real Estate, one of the world's largest real estate investment managers, formed a single-family build-to-rent joint venture with Apache Capital in 2023 to fund the development as part of its wider property investment strategy.
“Present Made, Eddington is a template for how similar urban extensions can blend different types of rental and for-sale housing," said John Dunkerley, founder and chief executive of Apache Capital.
“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.”
The refinancing reflects continued lender confidence in the completed scheme and its long-term prospects within the Cambridge housing market.
“We are delighted to have successfully completed the refinancing of our flagship single-family housing development in Cambridge – Present Made, Eddington," said Jasper Gilbey, head of housing and alternatives, Europe at Nuveen Real Estate.
“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”.
United Overseas Bank said the transaction demonstrates the role sustainable finance can play in supporting residential developments.
“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," said Lim Lay Wah, head of global financial institutions group, overseas branches and ESG strategy at UOB.
“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.”
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