The cash offer for Qunitain by the US-based Lone Star Real estate Fund was agreed this morning.
Lone Star controls £60bn of funds worldwide.
Angus Dodd, of Lone Star Europe Acquisitions LLP, said: “The proposed acquisition represents a unique opportunity for Lone Star to gain further exposure to residential and commercial assets in London.
“Wembley Park is one of the largest and most exciting urban renewal projects in Europe and complements our experience in this segment of the market.
“We intend to contribute significant additional financial resources to help Quintain in its next phase of growth: to accelerate delivery at Wembley Park, building more homes more quickly and continuing the creation of a cohesive and exciting new community.
“We very much look forward to working with the Quintain team on Wembley and the rest of the portfolio.”