Joint venture partners GREYKITE European Real Estate Fund I and Gatehouse Investment Management have acquired a portfolio of single-family rental (SFR) homes from Persimmon Homes for £60m.
The portfolio, which is located across the Midlands and the South West, comprises more than 200 homes on established housing developments.
GREYKITE and Gatehouse launched their £750m JV in November 2024 with the acquisition of a portfolio of homes from Persimmon. The JV has now completed the forward purchase of nearly 650 homes across 17 sites in England.
Michael Abel, founder and CEO of GREYKITE, said: “We continue to deploy capital at pace on behalf of our UK SFR strategy, reflecting our high conviction in a sector benefitting from compelling demographic and societal tailwinds. We look forward to further expanding this differentiated platform in the UK residential space, where there is increasing recognition of the critical role that private capital will play in delivering much needed homes.”
Dan Valenzano, senior partner at GREYKITE, added: “This acquisition will significantly enhance the scale and footprint our existing portfolio, and will deliver high-quality homes in some of the UK’s fastest-growing residential-for-rent markets. We are excited to bring these sites forward alongside our best-in-class partners Gatehouse Investment Management and Persimmon.”
Paul Stockwell, group managing director of Gatehouse Investment Management, said: “These homes, in locations that perfectly align with the JV’s investment strategy, represent superb additions to the growing portfolio. With the quality of homes it has already delivered, Persimmon has shown itself to be an ideal delivery partner, and we look forward to further deals in the future.”
