Goodstone Living establishes U.K. build-to-rent residential fund
Goodstone Living has announced the establishment of its first fund targeting the build-to-rent residential real estate sector following the final close of Goodstone Living Partners 1.
The fund, which is subject to Article 8 under the European Union’s Sustainable Finance Disclosure Regulation, has secured equity investments from a number of U.K. and international investors including Northern Local Government Pension Scheme (Northern LGPS), providing the specialist real estate developer and investment manager with more than £550 million (€632 million/$669 million) of investment capacity.
With a “develop-to-hold” investment strategy, the fund is focused on delivering and operating the next generation of rental residential communities across London and major regional U.K. cities for long-term ownership. The fund’s initial portfolio comprises almost 1,000 high-quality homes already under construction in