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UK: The National Housing Bank (NHB) has joined as a cornerstone investor in Starlight UK’s Build-to-Rent (BTR) Fund II, supporting the acceleration of new rental home delivery across England.
The equity investment is made through Homes England’s newly established National Housing Bank – the government’s new vehicle for long‑term place‑shaping and housing investment. Operating as part of Homes England, the bank deploys flexible, government‑backed capital across funds, platforms and partnerships to unlock housing and regeneration projects, crowding in private capital and accelerating delivery at scale.
Starlight Investments, headquartered in Toronto, has operated in the UK since 2020 and currently manages a portfolio of 4,000 homes and £1.1 billion in assets under management. The National Housing Bank’s investment, alongside significant commitments from a diverse base of global institutional investors, advances Starlight’s growing UK platform.
The Build-to-Rent Fund II will develop professionally managed rental housing in structurally undersupplied markets, including major regional cities such as Manchester, Liverpool and Leeds, as well as key London Commuter Belt locations. The homes will be located close to employment, education and transport – supporting wider economic growth and regeneration in local communities.
National Housing Bank CEO Simon Century said: “This is exactly the kind of investment – made through the government’s National Housing Bank – that will help to transform England’s housing market. Supporting international capital to commit to building thousands of new homes in towns and cities across the country is a hugely encouraging sign that England’s residential market is open for business and able to attract institutional investment to support growth. Starlight’s approach to development, professional management and institutional ownership of mid-market rental housing aligns with our place-based priorities. We welcome this partnership as part of our efforts to help communities access the homes they need.”
Daniel Drimmer, founder and CEO of Starlight Investments, added: “Starlight’s UK residential strategy is rooted in responsible, long-term investment and a commitment to providing high quality rental options for residents. Building on our expanding UK portfolio, this partnership marks an important milestone as we continue to grow our BTR platform and align private investment with outcomes that benefit local communities.”
Over the next decade, the National Housing Bank aims to invest up to £16 billion through debt, equity, and guarantee products, “stepping in where the market cannot”.
The NHB aims to attract more than £50 billion of private capital, enabling more homes, stronger places and thriving, sustainable communities.
Highlights:
• The National Housing Bank (NHB) has joined as a cornerstone investor in Starlight UK’s Build-to-Rent (BTR) Fund II
• The NHB will deploy £100 million to the fund
• The Build-to-Rent Fund II will develop professionally managed rental housing in structurally undersupplied markets, including major regional cities
• Starlight currently manages a portfolio of 4,000 UK homes and £1.1 billion in assets under management
• Over the next decade, the National Housing Bank aims to invest up to £16 billion through debt, equity, and guarantee products
