Gatehouse Investment Management (IM) has acquired 105 single-family build-to-rent homes from MJ Gleeson for £18.5m, as part of its joint venture with Carlyle.
This is the second deal the joint venture has signed with MJ Gleeson, with the new homes located across the same 15 developments as 288 units acquired from the housebuilder last year. The two-, three- and four-bedroom homes will be handed over from early 2025 onwards.
The joint venture between Gatehouse IM and Carlyle has completed the purchase of more than 800 units nationwide in the past 12 months and the entire portfolio, including the new acquisitions, will be managed by Ascend.
John Coles, director of acquisitions at Gatehouse IM, said: “We are pleased to have completed this latest acquisition with MJ Gleeson, having been impressed with the homes it has already delivered, and are certain these further units will be an equally strong element of our wider portfolio. We have developed a productive working relationship with MJ Gleeson, and look forward to future deals.”
Anssi Halonen, managing director and head of acquisitions on the Carlyle Europe Realty advisory team, added: “The fundamentals underpinning our UK residential strategy remain compelling. These represent high-quality additions to our growing platform, providing single-family rental homes which we believe will be a key part of the housing mix.”
Steve McElroy, group sales director at MJ Gleeson, said: “The addition of further units to the existing portfolio further strengthens the partnership we have developed with Gatehouse IM and Carlyle and allows us to work together to provide much needed high quality and affordable housing stock in the areas and for people who need it most.”
Last week, Gatehouse IM and Carlyle acquired 82 single-family build-to-rent (BTR) homes from Persimmon Homes for £18.7m.
