USAA Real Estate, Packaged Living form U.K. BTR JV

USAA Real Estate (USSARE) and U.K. build-to-rent (BTR) investor Packaged Living have entered into a new joint venture to develop a portfolio of multifamily BTR assets in the United Kingdom.

The joint venture will pursue the acquisition, planning, construction and operation of multifamily BTR assets in the United Kingdom. It has closed on its first land acquisition in Liverpool.

Packaged Living will be responsible for acquisitions and delivery of the joint venture’s portfolio

“We see a huge opportunity to positively change that market and we are delighted to launch USAARE as one of our new partners. Our joint venture will focus on creating best-in-class multifamily BTR assets where the need is greatest, whilst also delivering properties that are fit for the future, combining quality finishes with high energy efficiency, and lower costs,” said Ed Ellerington, founder and managing director of Packaged Living.

Justin Hildebrandt, executive managing dire