Ares Management and Moda Living launch single family housing venture

A fund managed by the Ares Real Estate Group, a subsidiary Ares Management Corp., has entered a joint-venture partnership with Moda to launch a vertically integrated built-to-rent single family homes (SFH) brand across the United Kingdom.

Through direct development with Caddick Construction and partnerships with reputable local developers, the platform will target the delivery of more than 5,000 high-quality purpose-built homes to the U.K. market, with a gross development value in excess of £1 billion (€1.2 billion/$1.4 billion) by the end of 2025. The sites for the first 1,000 homes have been secured, and construction is due to start in first quarter 2022.

The one- to four-bedroom homes will be in select suburban neighborhoods across the United Kingdom that are experiencing significant shortages of price-accessible, quality rental housing. Moda, a U.K. built-to-rent developer operator, will manage the platform and bring its experience as an operator of “next-gene