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Canada: QuadReal Property Group has acquired the UNCLE brand in the UK and Europe as well as Realstar’s UK and Ireland residential operating platform, which will be renamed.
As part of the transition, Ryan Prince will continue as CEO for 12 months before taking on the role of non-executive Chairman, with the existing management team remaining in place to grow the business.
The transaction consolidates the operating company under QuadReal.
The platform currently manages nearly 6,000 residential units across London, Manchester, Birmingham, Leeds, and Dublin, with a substantial portion under the UNCLE brand, which has been consistently rated as the UK’s top rental brand.
QuadReal’s global residential portfolio now spans more than 65,000 residential units and 28,000 student beds, including 8,500 units and 4,500 student beds across 29 communities in the UK.
The company will continue leveraging the UNCLE brand to strengthen its European residential strategy, while Realstar will pursue new investment opportunities independently.
Jonathan Dubois-Phillips, president of international real estate at QuadReal said: “This furthers QuadReal’s global residential strategy and positions us well for future growth in both the built-to-rent and student housing markets. We have a solid residential foundation in the UK because of our partnership with Realstar, and QuadReal will continue to deliver value through operational excellence and solid portfolio and asset management.”
Ryan Prince, vice chairman of Realstar and founder of UNCLE, said: “I am incredibly proud of the businesses we have built, the brands we founded, and the people I have worked alongside since launching Realstar’s UK operations nearly 25 years ago. Since the establishment of our UK business, we have worked across sectors from GP surgeries to hotels, BTR, student accommodation and co- living. QuadReal’s investment, particularly over the past five years has turbo-charged our growth, and the business is now in its strongest position yet. I look forward working alongside QuadReal on the UK BTR and student fronts while at the same time seeking out new opportunities for Realstar to grow in the UK and Europe.”
Highlights
- QuadReal has acquired Realstar’s UK & Ireland residential operating platform, including the UNCLE brand
- Ryan Prince will remain CEO for 12 months before transitioning to non-executive Chairman
- QuadReal now manages over 8,500 residential units and 4,500 student beds in the UK as part of its 65,000-unit global residential portfolio
