The funding arm of the UK government’s housing agency has committed to a phased investment of £100m (€115.2m) into Starlight Investments’ build-to-rent (BTR) fund.
Homes England’s National Housing Bank has joined Starlight UK Build-to-Rent Fund II as a cornerstone investor, contributing to “significant commitments” from a range of global institutional investors.
The funding will support the delivery of 6,000 homes through the Starlight platform, which targets the expansion of its build-to-rent pipeline across the UK.
Simon Century, chief executive of National Housing Bank, said: “This is exactly the kind of investment – made through the government’s National Housing Bank – that will help to transform England’s housing market.
“Supporting international capital to commit to building thousands of new homes in towns and cities across the country is a hugely encouraging sign that England’s residential market is open for business and able to attract institutional investment to support growth.”
Daniel Drimmer, founder and CEO of Starlight Investments, said: “Starlight’s UK residential strategy is rooted in responsible, long-term investment and a commitment to providing high quality rental options for residents.
“Building on our expanding UK portfolio, this partnership marks an important milestone as we continue to grow our BTR platform and align private investment with outcomes that benefit local communities.”
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