Ex-Greystar MD launches UK rental housing firm with Hilltop founder

Michela Hancock, former managing director of Greystar’s European real estate business, has partnered with Hilltop Capital Partners founder Paul Oberschneider to set up a real estate company focused on the UK rental housing sector.

Hilltop Property Partners (HPP), led by Hancock as CEO, is expected to offer professionally managed housing for middle-income working households and intends to expand across Europe.

Hancock joined Greystar in 2015, and before being named European managing director in June 2020, she led the UK development and construction team for two years. Prior to this, she was private-rented sector director at Grainger and worked for The Bozzuto Group in Washington DC as a developer of build-to-rent communities.

Hancock said: “We’re at a critical juncture for the UK housing market, where enabling middle-income households to access quality accommodation, and still have headroom within their monthly earnings, is more critical than ever.

“Our new platform will deliver professionally managed, amenity-light, rental homes with an essential service offering. We are responding to a real and growing demand from working people and families seeking modern homes at an attainable price point.”

HPP has selected Greystar as its operating partner for its first project, a 425-unit build-to-rent scheme in Leeds’ Victoria Riverside district.

“Hilltop Property Partners is launching with our first development secured, and we look forward to further leveraging our global network and deep sector expertise to capitalise on opportunities across the UK and Europe,” Hancock said.

Oberschneider said: “Michela is one of the most respected leaders in the UK living sector and brings a truly unrivalled track record of building teams, pioneering new products and scaling major operational businesses with global capital partners.

“Our vision of tackling the growing challenges that remain in the housing market comes as more capital is being allocated to living sectors. With a growing pipeline across the UK and Europe, we look forward to scaling this new business over the next decade.”

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