Build to rent group wants to deliver between 12,000 and 14,000 homes
Build-to-rent specialist Get Living has taken another step towards its target of delivering up to 14,000 homes after the group’s owners secured around £250m in external funding.
Investment group Oxford Properties and real estate asset manager Delancey raised the funds from Swedish pension fund Alecta, through the pair’s residential investment arm Delancey Oxford Residential, or Door.
Door took a 39% stake in Get Living two years ago, committing £600m to the group. The latest funding move is the first to involve external investors.
Get Living runs 3,000 build-to-rent homes, mainly at two schemes at East Village, the former athletes’ village in the Queen Elizabeth Olympic Park in Stratford, and Elephant Central at Elephant and Castle in south-east London.
It also operates a smaller neighbourhood at Middlewood Locks, Manchester.
Last year the group submitted plans to develop a five-acre 780-homes neighbourhood in Leeds (pictured).
Get Living is jointly owned by Dutch pension fund asset manager APG, real estate developer Qatari Diar, Oxford Properties and a Delancey-advised fund DV4.