Fiera Real Estate and Packaged Living intend to build a £1bn UK single-family housing (SFH) portfolio, having recently completed a first close for their new UK SFH fund.
The open-ended, core-plus fund – Fiera Real Estate Single-Family Housing (FRESH) – has secured seed capital from a group of institutional investors, enabling immediate deployment into an existing pipeline.
FRESH will target average deal sizes of 50 to 200 homes and the fund will invest through forward-funding and forward-commitment agreements with developers and housebuilders.
The fund will use the sustainability impact label under the UK Sustainable Disclosure Regulation, with the objective of facilitating the delivery of private rental single-family homes in underserved locations.
Charles Allen, head of European Real Estate at Fiera, said: “FRESH provides investors with access to a highly defensive sector that continues to demonstrate resilience in this market cycle. This fund further enhances our ability to deliver stable cash flows within our diversified portfolio, marking another significant step in our growth journey.”
Ed Ellerington, CEO of Packaged Living, added: “Single-family rental housing has evolved from a granular asset class to an increasingly mature investment opportunity that is scalable and operationally efficient. We will leverage our full lifecycle expertise and established track record to deliver a high quality and sustainable housing product. This will offer downside protection, growth prospects, and measurable sustainability and impact benefits for institutional capital.”
