Packaged Living launches new suburban single-family rental-housing platform
Packaged Living, a U.K. private rented sector specialist backed by Fiera Real Estate, has launched a single-family rental-housing platform.
Packaged Living’s single-family rental platform will work with volume house building partners to develop and operate a portfolio of 5,000 single-family homes over the next five years across the United Kingdom and will complement the current multifamily apartment development pipeline of more than 2,000 apartments across several U.K. cities, including Newcastle, Manchester and Milton Keynes.
The single-family rental platform is already under offer to acquire a first tranche of homes with completion due in 2021 and will continue to seek to develop and operate traditional suburban single-family housing portfolios, composed of schemes totaling 50 to 200 homes.
The single-family rental business will be headed by Jonathon Ivory, a leading figure in the build-to-rent industry and former head of Atlas Residential UK, a major player