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UK: Sigma Capital and EQT have brought the management of their London BTR portfolio in-house under Simple Life Management, Sigma Capital’s property management business.
The portfolio includes 1,432 apartments across Greater London and was launched in 2020 through a partnership between Sigma Capital and investment firm EQT. The project was funded by £50 million in funding from Homes England.
Until now, the apartments were operated by an outside company. The new deal will mean Simple Life Management will be responsible for lettings and daily management of the property.
Residents can enjoy customer support, 24-hour maintenance service, fully furnished and pet friendly homes. The majority of the apartments sit within London’s transport zones three to six and two sites are still in the works.
It is the first time that Simple Life Management has taken on full management of a portfolio owned by another investor. The company now owns almost 6,000 homes throughout the UK.
Ged McPartlin, managing director of Simple Life Management said the move supports the company’s long-term growth plans, adding “Bringing the Simple Life London portfolio in-house reflects our long-term ambitions, with a strong offering across both single-family and multifamily housing.”
Sigma Capital believes the move will help to enhance efficiency, cut costs and generate more value for investors as the London portfolio continues to expand.
Highlights:
- Sigma Capital and EQT have brought the management of their 1,432-apartment London rental portfolio in-house under Simple Life Management, Sigma Capital’s property management platform
- The Greater London portfolio launched in 2020 through a partnership between Sigma Capital and EQT, supported by £50 million in funding from Homes England
- Simple Life Management has taken over lettings and day-to-day operations from a third-party operator, marking its first full management contract for another investor
- Residents across the London portfolio have access to customer support teams, a 24-hour maintenance service and fully furnished, pet-friendly apartments
