QuadReal Property Group invests $1b in eight U.K. assets
QuadReal Property Group has invested $1 billion to acquire a majority interest in eight U.K. assets (seven in London, one in Manchester).
Four of these assets form part of Realstar Groups UNCLE branded rental housing portfolio, including its flagship 45-story tower in the center of Elephant & Castle, as well as its Stockwell, New Cross and Manchester buildings.
QuadReal has already partnered with Realstar on six other UNCLE developments in London, bringing its rapidly growing residential rental portfolio under the UNCLE brand to 10 locations, representing nearly $2.5 billion of assets and growing.
In addition to its investment in the properties, QuadReal is also acquiring an ownership stake in Realstar’s U.K. management business, which owns the U.K. rights to the UNCLE brand.
Ryan Prince, CEO and founder of UNCLE, said, “We have worked in partnership with QuadReal and its clients as a trusted business ally for many years. However, under this new r