Moda Living has entered into a joint venture with global fund manager Ares to deliver 5,000 build-to-rent single family homes by the end of 2025.

The partnership is targeting delivery of schemes with a combined gross development value of more than £1 billion over the same period. It will directly deliver homes with Caddick Construction and through partnerships with local developers.

The sites for around 1,000 homes have been secured, with work on projects due to start in the new year.