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UK: US real estate investor Kennedy Wilson is the preferred bidder for Notting Hill Genesis’ £750 million Folio build-to-rent portfolio.
Kennedy Wilson is understood to have entered exclusivity with Notting Hill Genesis (NHG), with due diligence set to start on the proposed acquisition.
The portfolio comprises 2,079 rental homes across 15 developments in London and Chelmsford and has an occupancy level of around 98 per cent.
The Folio homes are located in boroughs including Newham, Greenwich, Southwark, Ealing, Croydon, Barnet, and Hammersmith and Fulham.
Among the portfolio’s largest assets is Royal Wharf Estate in Newham, where Folio owns 338 homes, while City Park West in Chelmsford accounts for a further 317 properties. Approximately nine in ten homes across the portfolio are one- and two-bedroom apartments, while 98 per cent have an EPC rating of C or above.
The sale process, called Project Vanguard, has been run for NHG by Deloitte. Kennedy Wilson emerged ahead of rival interest from Hyde Group and a partnership between investor Adira and European asset manager Hayfin.
Kennedy Wilson already has a presence in the UK BTR sector through its single-family rental (SFR) partnership with Canada Pension Plan Investment Board, established in 2024, has grown to around 2,000 homes across 23 sites. Earlier this year it launched a €2 billion Irish BTR venture with Dutch pension provider APG.
Earlier this year, Kennedy Wilson was taken private via a buy-out led by chief executive William McMorrow.
Highlights:
• US real estate investor Kennedy Wilson is the preferred bidder for Notting Hill Genesis’ £750 million Folio build-to-rent portfolio
• The portfolio comprises 2,079 rental homes across 15 developments in London and Chelmsford
• The sale process, called Project Vanguard, has been run for NHG by Deloitte
• Kennedy Wilson already has a presence in the UK BTR sector through its single-family rental (SFR) partnership with Canada Pension Plan Investment Board
• Earlier this year it launched a €2 billion Irish BTR venture with Dutch pension provider APG
