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UK: Packaged Living has expanded its in-house property management business through the acquisition of Apo Group’s third-party operations.
The transfer will see a portfolio of around 1,000 homes in Liverpool, Manchester and London absorbed by Packaged Living. Apo’s brand, core systems and processes, and client contracts will also be folded into Packaged Living.
The enlarged property management business, which will continue to trade under the Apo brand, will be led by Stewart Moore, former CEO of international student accommodation provider CRM Students. Moore brings more than 22 years’ senior experience in residential and student property operations, having overseen the growth of institutional brands across UK multifamily, single-family rentals, coliving and senior housing.
The acquisition strengthens Packaged Living’s vertically integrated platform, which spans investment management, asset, development and property management and further streamlines its portfolio of 4,000 homes across multiple residential-rental tenures, including Aviva Investors’ single-family housing portfolio of more than 1,000 homes, Fiera and Packaged Living’s FRESH single-family housing strategy, and a multi-family and coliving portfolio with a pipeline of approximately 2,300 homes.
Ed Ellerington, CEO of Packaged Living, said: “Operating the homes we build and invest in has been central to our approach for some time, and this is a natural step in scaling that capability. Folding the Apo brand into the wider Packaged Living Group gives us a larger, more established operational platform, and in Stewart we have a leader with the experience to take it forward. Quality of management is what ultimately defines the resident experience and the long-term performance of an asset. Strengthening our in-house capability puts us in the best position to deliver for residents and investors as the portfolio continues to grow.”
Stewart Moore, managing director of property management at Packaged Living, added: “Packaged Living has built a distinctive, fully integrated model, and I am delighted to lead the property management business as it grows. Combining Apo’s brand, established systems and client relationships with Packaged Living’s platform gives us a strong foundation to deliver a consistently high standard of first- and third-party product.”
Since its founding in 2018, Packaged Living has assembled a pipeline spanning more three million square feet of development across multi-family build-to-rent, single-family rentals, garden-style housing, coliving and flex living. This includes assets within FRESH, Fiera Real Estate and Packaged Living’s UK Single-Family-Housing fund.
Highlights:
- Packaged Living has expanded its in-house property management business through the acquisition of Apo Group’s third-party operations
- The transfer will see a portfolio of around 1,000 homes in Liverpool, Manchester and London absorbed by Packaged Living
- The enlarged property management business, which will continue to trade under the Apo brand, will be led by Stewart Moore, former CEO of CRM Students
- Moore brings more than 22 years’ senior experience in residential and student property operations, having overseen the growth of institutional brands across UK multifamily, single-family rentals, coliving and senior housing
