TPG Real Estate Partners and Gatehouse Bank launch U.K. single-family BTR JV

TPG Real Estate Partners (TREP), the dedicated real estate equity investment platform of global alternative asset firm TPG, and Gatehouse Bank, a Shariah-compliant U.K. retail bank and real estate investment firm specializing in build-to-rent and the private rented sector, have launched a new joint venture that will deliver high-quality, new-build single-family homes for private rental across the United Kingdom.

The initiative launches with an initial portfolio of four sites and the capacity to build an investment portfolio with a total value in excess of £500 million (€590 million/$693 million). The first four sites will be acquired via partnership with leading homebuilder Countryside Properties PLC, a specialist in mixed-tenure and regeneration projects with an emphasis on “placemaking” design, which will develop the sites for the venture. The launch properties comprise 321 single-family homes totaling more than 270,000 square feet and located in established residen