Viventi Capital Management has made its first move in the UK build-to-rent market with a £100m investment.
US-based Viventi has partnered with FirstPort, the largest UK residential property manager.
The finance from institutional investors will provide the first tranche across a portfolio of projects ranging from 250 to 400 units in key regional cities.
Charles Flynn (pictured left), chief executive and founder of Viventi, said: “Our strategic partnership with FirstPort also provides us with the scalability and expertise to help Viventi to design, operate and maintain a portfolio of build-to-rent communities across the UK.”
Nigel Howell (right), chief executive at FirstPort, said: “Working with Viventi from the start of the planning process ensures we deliver what BTR customers want. FirstPort will also be the single point of contact for the customers – from helping them secure a tenancy, to looking after their home.
“This complete model, which will see us going ‘behind the front door’ is what BTR customers want, and we are delighted to use our expertise to deliver a first-class service for them.”
FirstPort manages 185,000 homes across 3,900 developments in the UK. It specialises in working with developers, investors, freeholders and more than 200 resident management companies.
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