Fiera and Packaged Living target £1bn UK single-family housing portfolio

What's the deal? Fiera Real EstateDealroom has a profile for this one. Try Dealroom → and Packaged Living have completed a first close on their new UK single-family housing (SFH) fund, aiming to build a £1bn portfolio. The open-ended, core-plus vehicle — Fiera Real Estate Single-Family Housing (FRESH) — secured seed capital from a group of institutional investors.

What's the endgame? The fund will target average deal sizes of 50 to 200 homes, investing through forward-funding and forward-commitment agreements with developers and housebuilders. Its aim is to deliver private rental single-family homes in underserved locations.

Why now? The seed capital enables immediate deployment into an existing pipeline. FRESH will use the sustainability impact label under the UK Sustainable Disclosure Regulation.

Charles Allen, head of European Real Estate at Fiera, said FRESH gives investors "access to a highly defensive sector that continues to demonstrate resilience in this market cycle."

The signal: Institutional interest in build-to-rent single-family housing is maturing. Ed Ellerington, chief executive officer of Packaged Living, said the asset class has evolved "from a granular asset class to an increasingly mature investment opportunity that is scalable and operationally efficient."

Read more: BE News

Image credit: ReneS