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UK: Fiera Real Estate and Packaged Living have secured £70 million from the National Housing Bank for their FRESH single-family rental (SFR) fund.
The investment takes the fund’s capacity to £200 million. The funds from the National Housing Bank – which is aiming to invest up to £16 billion in housing delivery and regeneration over the next decade – will support further deployment into the strategy’s existing pipeline. FRESH is targeting a £1 billion portfolio of high-quality, professionally managed family rental homes across supply-constrained UK locations.
FRESH, which was established in August 2026, will invest through forward-funding and forward-commitment agreements with developers and housebuilders. It will use the Sustainability Impact label under the UK Sustainable Disclosure Regulation, demonstrating the strategy’s commitment to facilitating the supply of private rental single-family homes in underserved locations.
Simon Century, CEO of the National Housing Bank, said: “This investment demonstrates the role the National Housing Bank can play in attracting institutional capital into housing delivery. By partnering with Fiera and Packaged Living, we are supporting the creation of a pipeline of family rental homes at scale, helping to address undersupply in key markets and deliver lasting benefits for communities.”
Charles Allen, head of European Real Estate at Fiera Real Estate, said: “Securing this commitment is a strong validation of our investment thesis and joint track record with Packaged Living in delivering high-quality rental housing. The strategy provides institutional investors with targeted exposure to an established asset class that can be scaled effectively, marking another major step in our growth journey. Living represents one of Fiera’s three conviction sectors alongside real estate debt and logistics, all of which are driven by strong structural tailwinds, long-term supply-demand imbalances, and defensive, inflation-resilient income streams.”
Ed Ellerington, CEO of Packaged Living, added: “This is a further example of how effective collaboration between private and public capital can accelerate housing delivery across multiple tenures and at scale. Packaged Living has been a pioneering force in the institutionalisation of UK rental housing, of which single family housing is now a mature asset class with demonstrable benefits across sustainability and socio-economic impact. We will leverage our full lifecycle expertise and proven track record to deliver high-quality, sustainable homes that offer the potential for downside protection, growth prospects and measurable benefits for our investors.”
Packaged Living manages a diverse portfolio of garden-style, coliving and multi-family homes, and is currently developing and operating 4,000 units.
Highlights:
- Fiera Real Estate and Packaged Living have secured £70 million from the National Housing Bank for their FRESH single-family rental (SFR) fund
- The investment takes the fund’s capacity to £200 million
- FRESH, which was established in August 2026, will invest through forward-funding and forward-commitment agreements with developers and housebuilders
- It is targeting a £1 billion portfolio of high-quality, professionally managed family rental homes across supply-constrained UK locations
