Starlight Investments, a Canada-based real estate investment firm, has increased its UK build-to-rent holdings with the £500m acquisition of three assets in Manchester and Basildon.
The acquisition, which comprises 1,541 homes in total, will increase Starlight’s UK portfolio to more than 3,300 homes.
In Manchester, Starlight is acquiring two towers from Renaker, one of which is a 60-storey, 532-home residential tower currently under construction in the Castlefield conservation area. It will include a mix of one- to three-bedroom homes, an indoor pool, co-working areas, a gym, resident lounges and an outdoor terrace.
The second Manchester property is a 40-storey, 517-home tower located in the city’s Greengate neighbourhood, which will also contain one- to three-bedroom homes, a rooftop terrace, co-working areas, a gym and resident lounges.
The third property in Basildon (main picture) is a 492-home three-block, mid-rise property within the city’s £600m regeneration masterplan, featuring one- and two-bedroom apartments, five outdoor terraces, a gym and co-working areas.
Daniel Drimmer, founder and chief executive officer of Starlight Investments, said: “These acquisitions reflect our strategy to create dynamic communities and high-quality rental housing in growing markets across the UK. Our increasing presence in the UK and our relationships with well-respected and established developers positions us strongly to deliver on our expansion strategy in the country’s growing BTR segment.”
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