Apache Capital has created a new business division to develop, own and operate single-family rental UK homes.
The investment manager said the newly launched arm, known as Present Made, will deliver over 3,000 smart homes as part of its first phase, with a focus on suburban locations across southern England.
Apache Capital said the first three sites in Present Made’s £1.6bn (€1.9bn) development pipeline are located in the Oxford-Cambridge Arc.
Present Made is Apache Capital’s second UK build-to-rent platform after its £2bn multifamily joint venture with Moda Living.
Richard Jackson, managing director and co-founder of Apache Capital and CEO at Present Made said: “Four years in the making, Present Made from the outset has been designed around our future residents’ needs and the growing importance of ESG considerations to both our residents and investors alike.
“Despite record numbers of families renting, no purpose-built single-family rental housing exists in the UK. Present Made will cater to this growing but under-served segment of the rental market by providing high-quality smart homes designed and built specifically for rent, delivered through precision engineering and operated by our own dedicated in-house team.”
Sue-Lin Heng, managing director at Eastdil Secured, said: “The disruption caused by COVID-19 has encouraged investors to explore new emerging asset classes that are structurally supported and less vulnerable to technologically-driven trends. As such, we are seeing clear and growing investor interest in the UK single-family housing market.”
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