Greykite European Real Estate Fund I and Gatehouse Investment Management, have acquired a second portfolio of purpose-built single-family rental (SFR) homes from UK housebuilder Persimmon Homes.
The partners have acquired a six-site portfolio of more than 200 homes across the Midlands and South-West of England for their recently launched £750m joint venture.
The joint venture launched in November 2024 with the acquisition of an initial 11-site seed portfolio, also from Persimmon Homes. In total, the venture has now completed the forward purchase of nearly 650 homes across 17 sites in England.
UK SFR housing manager Ascend will act as the property manager of the portfolio.
The transaction follows the formal launch of Greykite and the fund in March 2024, and its initial investments across the European logistics, residential and student housing sectors in the second half of 2024.
Michael Abel, founder and CEO of Greykite, said: “We continue to deploy capital at pace on behalf of our UK SFR strategy, reflecting our high conviction in a sector benefiting from compelling demographic and societal tailwinds.
“We look forward to further expanding this differentiated platform in the UK residential space, where there is increasing recognition of the critical role that private capital will play in delivering much needed homes.”
Dan Valenzano, senior partner of Greykite, said: “This acquisition will significantly enhance the scale and footprint our existing portfolio, and will deliver high-quality homes in some of the UK’s fastest-growing residential-for-rent markets.
“We are excited to bring these sites forward alongside our best-in-class partners Gatehouse Investment Management and Persimmon.”
Paul Stockwell, group managing director of Gatehouse, said: “These homes, in locations that perfectly align with the JV’s investment strategy, represent superb additions to the growing portfolio.
“With the quality of homes it has already delivered, Persimmon has shown itself to be an ideal delivery partner, and we look forward to further deals in the future.”
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