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UK: CBRE Investment Management (CBRE IM) has acquired 222 single-family rental (SFR) homes from housebuilder Bellway.
The portfolio features a mix of completed homes and forward-funded development across three sites in the south of England – Forster Park in Stevenage; Whitehouse Gardens in Milton Keynes; and Fallow Wood View in Burgess Hill, West Sussex. All are expected to be completed by the end of 2027.
The developments will deliver predominantly two and three-bedroom homes, which will be operated by Moda Living.
The transaction is the first deal for CBRE IM’s Single Family Housing Partners fund, which was launched with Moda Living in May.
CBRE IM backed the fund, which is expected to deliver 1,500 homes, with an initial £400 million, and hopes to grow the fund to a £2 billion 7,500-home portfolio by 2033.
Tom James, head of UK transactions at CBRE IM, said: “This is an exciting addition to our residential platform and a great first step in growing our single-family housing fund, delivering high-quality houses on attractive sites in locations where demand for best-in-class, professionally managed rental housing continues to outstrip supply. Working alongside Moda Living, we are building a platform designed to deliver at scale, both in terms of operational execution and investor outcomes, focused on homes that meet the evolving needs of renters and generate sustainable income over time.”
Johnny Caddick, chief executive of Moda Living, said: “Demand for professionally managed rental homes continues to outstrip supply and, with the backing of committed, long-term capital and Moda’s integrated development and operational platform, we’re well placed to help address that challenge. We’re looking forward to building on this strong start as we continue to grow the platform by utilising Moda’s delivery and operational capabilities – together with the wider Caddick Group land pipeline – to deliver more high-quality homes across the UK.”
Ian Gorst, regional chair at Bellway Homes, said: “We are proud they have chosen Bellway as their delivery partner, recognising our proven HBF [Home Builders Federation] ‘five-star home builder’ track record for quality and customer satisfaction. We look forward to building on our relationship in the years ahead.”
Highlights:
- CBRE Investment Management (CBRE IM) has acquired 222 single-family rental (SFR) homes from housebuilder Bellway
- The portfolio comprises a mix of completed homes and forward-funded development across three sites in the south of England
- The transaction is the first deal for CBRE IM’s Single Family Housing Partners fund, which was launched with Moda Living in May
- Moda Living will operate the homes
