Long Harbour raises £500m for new UK BTR venture

Long Harbour’s third build to rent (BTR) investment venture has raised £500m of capital from investors to help grow its portfolio across the UK.

The real estate manager’s new Long Harbour Multi-Family (LHMF) will target the development of BTR schemes of over 150 units in London, the South East and selected regional cities.

The initial £500m capital secured is expected to be deploy into the sector in the next 24 months.

LHMF’s first investment will be the £70m forward funding of a 166-unit scheme at Tottenham Hale, with developer Berkley Square Developments.

The development will deliver 166 residential apartments, of which eight apartments will be delivered as discounted market rent, alongside 7,969sqm of commercial space.

William Astor, CEO at Long Harbour, said: “This is another major milestone for Long Harbour as we continue to invest in the UK’s build to rent market.

“A proven and trusted partner for institutional investors, our joint venture vehicle underlines our ability to deliver high quality schemes in locations where rented accommodation is in high demand, such as Tottenham Hale.”

Astor said the Long Harbour Multifamily Venture builds on the success of the team, which has deployed over £400m into assets over the past six years.

“There is significant momentum behind the UK’s Build to Rent sector and, as one of the leading and longest standing investors, we are well placed to capitalise on the many emerging opportunities.”

CBRE Capital Advisors acted as the lead placement agent for the venture. Bright Capital acted as the placement agent in North America and Jade Advisors in the Middle East.

Related images

  • Long Harbour

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Now