CPPIB and Lendlease sell London Elephant Park rental portfolio to Greystar for $670 million

The $670-million sale of the 904-home complex marks a significant exit from the UK build-to-rent sector by the Canadian pension fund and Australian developer.

By Handelsavisen Newsroom · Automated 2026-06-26 11:44 UTC · 1 min read

The Canada Pension Plan Investment Board (CPPIB) and Australian real estate group Lendlease have agreed to sell their Elephant Park residential portfolio in London to Greystar.

The transaction values the 904-home complex at $670 million, with CPP Investments expected to receive that amount from the deal.

Greystar, the world’s largest private owner and operator of rental housing, will take over management of the development.

The sale represents a strategic divestment for CPPIB and Lendlease, who have been partners in the Elephant Park project since its inception.

The complex, located in the Nine Elms area of Wandsworth, has been a flagship example of the build-to-rent (BTR) model in the UK market.

The deal highlights ongoing portfolio rotation among institutional investors in the UK real estate sector.