Principal Asset Management has added 143 residential units to its UK housing portfolio.
The fund manager has acquired three multi-family residential buildings in Queen’s Park, north-west London, from UK developer Vistry, on behalf of a separate account client.
Principal said the transaction has been structured as a combination of a standing acquisition and forward commitments with no financial details disclosed.
The assets form part of Vistry’s North West Quarter scheme which will deliver 553 new homes alongside a mix of residential, commercial and community uses.
The dea marks the third UK residential acquisition for Principal, following its purchase in December 2025 of two multi-family residential investments in south-west London for more than £100m (€116m). The previous deals included the acquisition of a 66-unit residential building at Vistry and MTVH’s Clapham Park regeneration scheme.
Chris Game, fund manager at Principal Asset Management, said: “This acquisition reflects our continued conviction in the UK residential market and our focus on well-located, high-quality assets that can deliver durable income.
“Queen’s Park benefits from strong fundamentals, excellent connectivity and limited new supply, making it well positioned to support long-term rental demand. The assets are located within walking distance of Lonsdale Road, a vibrant street known for its eclectic mix of leisure, dining and retail, further supporting demand.”
Nick Churcher, managing director for Vistry West London, said: “North West Quarter forms an important part of the South Kilburn regeneration, where we are delivering 328 homes alongside new community infrastructure and amenities.
“By combining completed homes with forward-funded delivery, we are able to provide partners with flexible access to scale in well-connected London locations, while supporting the long-term transformation of local communities.”
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