US apartment investor Atlas Residential has created a new UK rental management company through a merger with Wildheart Residential Management.
Atlas has operated more than 70,000 apartments since 1992 with a transaction value in excess of $7bn (£5.6bn). Since entering the UK market through a tie-up with Rockspring, it has bought two sites in Southampton and Birmingham with 613 units.
Wildheart manages about 3,000 apartments in the UK, though large-scale private rental portfolios, block management and facilities maintenance.
The combined company will trade under Atlas Residential, and will offer operational and management expertise to cater for the growing need of institutional investors for rental management.
Jonathon Ivory, Atlas Residential managing director and United Kingdom Apartment Association president said: “Working with Wildheart will bring together two decades of American systems and industry sophistication with British knowledge and market experience to create a unique Anglo-American platform.
“We will be able to apply nuanced local knowledge and best practices to the UK market in a way that no other firm has been able to, to date.”
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