Amro Real Estate Partners is seeking a £500m (€561.7m) investment partner to target purpose-built rental homes in London.
Amro said it has acquired two London development sites for a newly launched build-to-rent (BTR) platform, AmroLiving.
The asset manager, which is backed by a private family office its management team, said it has also appointed JLL to find an institutional joint venture partner to invest £500m to help with the roll-out of 1,500 new build rental units over the next five years.
The two sites acquired will provide a total of 500 homes. The first site is expected to be developed into a £95m, 251-unit scheme in Ealing, West London, and the second will be a £110m, 250 unit scheme in Kingston upon Thames, South West London.
Ami Kotecha, a co-founder of Amro and a managing director for AmroLivin, said: “With a growing population, a major housing shortfall in London and with many locked out of home ownership, there is and will continue to be high demand for good-quality rental accommodation.”
Kotecha said Amro’s build-to-rent schemes will be designed to meet the needs of the local demographic and will deliver a “robust portfolio that will form a superb investment opportunity” for its joint venture partners.
In May this year, London-based Amro also said it was seeking a €300m investment partner to target student housing opportunities in Spain and Portugal. The specialist investor appointed CBRE Spain to search for the joint venture partner.