Matter Real Estate’s BTR business, Placefirst, has received £140m in equity funding from GCM Grosvenor.
Placefirst will use the recapitalisation to build a £1.3bn, 6,500 unit single-family housing residential portfolio across UK.
Placefirst already has a strong foothold in the SFH industry reaching 1,500 developed homes by April 2022, with the development of another 1,000 homes secured.
Peter Braffman, managing director at GCM Grosvenor, said: “Partnering with Matter gives us the ability to deploy capital into what we believe to be attractive investment opportunities across Europe, in sectors supported by strong social and demographic fundamentals. We believe in Matter’s unique approach to investing in and growing real estate platforms and aggregating portfolios with strong cashflow.”
David Christie, chief executive at Matter Real Estate, said: “GCM Grosvenor’s investment in Matter is a great endorsement of our investment strategy only one year after our launch. They recognise us as an emerging manager with an experienced team in place. We are looking forward to continuing our strategic relationship beyond their investment in Placefirst.”
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