Savills Investment Management has acquired Pitmore, the U.K. development and build-to-rent (BTR) specialist, as a key part of plans to grow its residential and BTR platform in the United Kingdom.
The first new product after the acquisition is the launch of Savills IM’s U.K. BTR strategy, which will build on Pitmore’s recent success and current pipeline. The strategy aims to develop as much as £500 million (€589 million/$587 million) of quality, sustainable housing in both single and multifamily assets with a strong focus on regeneration areas and master-planned schemes.
