Redevco, SFP Group, SFP UK form U.K. BTR residential JV

Redevco, SFP Group and SFP UK have signed a joint venture agreement to invest in the U.K. build-to-rent (BTR) real estate market over the next couple of years.

The strategy will focus on repurposing existing underused commercial assets that offer the potential for transformative residential-led mixed-use projects that will positively affect local communities. The joint venture will target the United Kingdom’s fastest-growing regional hubs with the aim of providing much needed homes to the domestic rental market. The first project is located in the Finneston region of Glasgow.

The solution-oriented approach characterized by the increasingly important BTR sector has brought together two like-minded parties with complementary skills. SFP group, with a majority ownership in the joint venture, is responsible for organizing the capital raising. Redevco, as SFP’s local partner, will concentrate on sourcing opportunities, as well as on the asset and development management.