£100m platform to invest in new-build single-family rental homes

Man Group’s global private markets (GPM) business and German real estate investor PATRIZIA have established a £100m  to invest in new-build single family homes.

Shamez Alibhai_002 Man Group

Shamez Alibhai, head of community housing, Man GPM

The joint venture has kicked off the programme by committing to develop 70 affordable homes for middle-income households in Milton Keynes.

Capital for the JV will be provided by PATRIZIA Sustainable Communities and Man Group. Man GPM’s community housing team will work with the housing association assigned to deliver the scheme.

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Man GPM has not yet announced which housing association it will be partnering with for its initial 70-home scheme in Milton Keynes.

The JV also plans to focus on delivering Energy Performance Certificate (EPC) A-rated rental homes and will aim to meet the Building Research Establishment’s (BRE) Home Quality Mark (HQM) 4.

The HQM awards certificates between 1-5 for the standard of a home’s design, construction and sustainability.

Previously, Man GPM has partnered with Longhurst Group housing association, which delivers homes across the Midlands and East of England.

Man Group also purchased 226 homes for affordable rent, shared ownership and key workers from modular developer TopHat

PATRIZIA Sustainable Communities is PATRIZIA’s first strategy that aligns with the EU Sustainable Finance Disclosure Regulation (SFDR).

The strategy sets out to provide thousands of affordable and sustainable homes in 25 European metropolitan areas.

 PATRIZIA Sustainable Communities has invested in two affordable and social housing projects in Dublin, where it is delivering a pipeline of 1,600 apartments for lower to middle-income households.