Cortland acquires British residential asset manager
Major U.S. multifamily real estate, investment and management company Cortland has acquired LIV Group for an undisclosed sum. The purchase is a significant move for the Atlanta-based multifamily business in its goal to create a market-leading position in the United Kingdom’s build-to-rent (BTR) sector.
Cortland, which owns more than 55,000 rental apartments in 18 cities across the United States, opened its U.K. office in 2017. The company plans to invest some £4 billion ($4.9 billion) to grow a portfolio of at least 10,000 professionally managed homes for rent in Britain. It will also focus on providing best-in-class, third-party management services for other key investors and operators.
Based in Leeds with London offices, LIV Group was one of the earliest entrants to the BTR sector and created the first fully integrated operating model for BTR assets.
LIV Group has 2,000 BTR homes nationwide with around 7,000 units in the pipeline for management, which it wi