Delancey and Oxford Properties have raised £250m from Swedish pension fund Alecta to pump into expanding Get Living’s build-to-rent pipeline.
Delancey advised client fund D4 and Oxford Properties co-sponsor the residential investment vehicle DOOR, which owns a 39% stake in BTR company Get Living.
The capital will be used to invest in Get Living’s existing pipeline and future large-scale acquisition opportunities. It is the first time DOOR has secured funding from external investors.
DOOR’s current capital commitments stand at £850m.
Get Living comprises approximately 3,000 operational homes, mainly across two London schemes: East Village, the former Athletes’ Village at Queen Elizabeth Olympic Park in Stratford, E20, and Elephant Central in Elephant and Castle, SE1.
Frans Heijbel, head of international real assets at Alecta, said: “This investment into DOOR enables us to access the UK residential market, which benefits from attractive supply demand dynamics and opportunities for future growth, through Get Living, which is a best-in-class platform.”
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