Starlight Investments enters UK Build to Rent market

Starlight Investments enters the UK Build to Rent market with the launch of a committed institutional fund to acquire £600m in assets.

Starlight Investments' Liverpool Build to Rent development, one of three assets acquired as the company enters the UK Build to Rent market | BTR News
Starlight Investments' Liverpool Build to Rent development, one of three assets acquired as the company enters the UK Build to Rent market.

Global real estate investment and asset management firm Starlight Investments enters the UK Build to Rent market, officially launching its European residential asset management platform in a new partnership with multiple global institutional partners.

With a focus on the UK, the Toronto-based company has acquired three Build to Rent schemes valued at £225m. Located in Manchester, Liverpool and Ashford, the schemes will deliver 922 new Build to Rent homes.

Starlight Investments will target Build to Rent projects in London commuter belt markets and eight to ten major cities. Initially, the company aims to acquire £600m of assets representing a portfolio of 2,000 to 2,500 units.

“We are pleased to have global institutional capital partners support Starlight in our European expansion. The UK represents a nascent rental market with a fundamental housing imbalance between supply and demand. Entering the UK Build to Rent market is a natural extension of Starlight’s North American residential expertise that will further allow us to invest with impact and strengthen Starlight’s brand as a global residential investor and asset manager.”

Daniel Drimmer, Founder and Chief Executive Officer, Starlight Investments

Entering into UK Build to Rent represents a meaningful first step in the company’s broader European residential strategy. Leveraging its North American expertise which includes $2bn of direct acquisitions from developers, Starlight Investments will deliver the fund’s growth objectives whilst supporting the UK asset management team in further building their relationships with UK developers.

With the increasing supply and demand imbalance, the deterioration of home ownership affordability, and the increasing demand for high-quality rental homes, Starlight Investments determined that now is an opportune time to enter the UK Build to Rent market.

“We are proud to be working with some of the best developers across the United Kingdom to deliver high quality communities for residents. Relationships with reputable, local Build to Rent experts coupled with Starlight’s extensive track record of residential investment and asset management has positioned us extremely well to execute in this market. We look forward to expanding Starlight’s European presence through the execution of our Build to Rent strategy in the UK.”

Jonnie Milich, Director, Starlight Investments UK

Starlight Investments is a privately held owner, developer and asset manager of over 77,000 multi-residential units and over nine million sq ft of commercial property space. With CAD $25bn AUM, the company offers a range of investment vehicles across various real estate strategies.

The company invests with impact, and has a guiding mission to balance tenure with visionary curiosity to create positive impact for both investors and communities.