U.K. fund manager Long Harbour has raised its third build-to-rent residential investment venture.
The new Long Harbour Multi-Family investment program has an initial €579.7 million ($652 million) of capital to deploy into the sector in the next 24 months. The new venture will target the development of high-quality build-to-rent residential schemes of more than 150 units in London, southeast England and selected regional cities, all of which will be managed by Way of Life, the company's in-house private rented sector management platform.
Long Harbour was an early entrant into the build-to-rent residential space and has a proven track record in the sector. With its first build-to-rent fund launched in 2013, the Long Harbour build-to-rent strategy has led the group to invest in more than €463.8 million ($521.4 million) of assets and 1,900 units to date.
The first investment from the new venture will be the €81 million ($91 million) forward funding of a 166-u
