LGIM Real Assets (Legal & General) has exchanged contracts on a new build-to-rent (BTR) site in Chelmsford City Center, on behalf of its U.K. Property Fund.
Since launch in 2006, the U.K. Property Fund has grown from £100 million ($129 million) to more than £3 billion ($3.88 billion) today as it continues to see steady capital investment from retail investors.
This is the first BTR acquisition for the fund as it continues to diversify its holdings into more operational assets, whilst adding to its alternative exposure. The latest acquisition will sit alongside the funds’ other recent alternative investments in hotels, healthcare and student accommodation.
“As we continue to actively diversify our holdings into more alternative sectors, build to rent will remain a preferred subsector alongside operational hotels, self-storage and student accommodation, giving us real time access to occupational markets with a robust rental growth story,” said Matthew
