Oxford Properties has co-invested in a UK private-rented sector (PRS) venture backed by Qatari Diar, Delancey and Dutch pension fund asset manager APG.

Get Living said a Delancey advised client fund DV4 and Oxford Properties have teamed up to form Delancey Oxford Residential (DOOR), a new co-investment platform with initial capital commitments of £600m (€678.2m).

DOOR will own 39% of Get Living’s current portfolio. APG and Qatari Diar will hold 39% and 22%, respectively, of the portfolio.

Get Living, which was launched in 2013, now has over 2,000 existing homes across two London schemes at East Village, the former athlete’s village on the Olympic Park in Stratford, and Elephant Central in Elephant and Castle.

These schemes sit alongside a development pipeline of around 4,400 homes, both at East Village and Elephant and Castle as well as two sites in Glasgow and Leeds. Get Living is targeting a portfolio of over 12,500 homes.

Delancey with Oxford and Qatari Diar will continue to act as development managers on the various schemes.

Jamie Ritblat, the founder and CEO of Delancey said: “Delancey and DV4 remain strongly committed to the residential sector in the UK after being an early adopter of the award-winning London 2012 legacy neighbourhood, East Village, and we are excited about the prospects for working alongside Oxford and our existing partners Qatari Diar and APG, to further ourselves as leaders in this fast-evolving sector.”

Paul Brundage, the executive vice president and senior managing director for Oxford Properties’ Europe and Asia Pacific business, said: “Oxford is delighted to be partnering with Delancey and DV4 on our first investment into the private rented sector in the UK.

”Delancey are pioneers in PRS and have an enviable track record. The housing crisis is a key issue in the UK, and we are excited for DOOR to make a real impact as one of the UK’s leading PRS platforms.”

Brundage added that Oxford Properties expects to undertake further investment into the sector this year.

Oxford Properties is the global real estate arm of the Ontario Municipal Employees Retirement System.

Nabeel Al Buenain, CEO Qatari Diar, said: “With the new partnership with DOOR, we feel this platform is now second to none in terms of size, development pipeline and operating capabilities in the UK PRS sector.”

Robert-Jan Foortse, the head of European real estate of APG Asset Management, said: “ With Get Living we aim to pursue more residential-led opportunities jointly with our partners DOOR and Qatari Diar.”

Neil Young, Get Living’s CEO, said: “This year, Get Living’s expansion out of London into some of the UK’s most exciting cities has set the scene for a period of aggressive growth, which this partnership with Oxford will only strengthen.”