Delancey will target residential investment opportunities of more than 1,000 homes in the UK in its new partnership with Qatari Diar and Dutch pension fund manager APG.
The trio have created a £1.4bn residential investment partnership through the merger of the entities owning their Stratford, E20, and Elephant & Castle, SE1, schemes in London.
It will be seeded with a portfolio of 4,000 rented homes.
East Village in Stratford was previously owned by Qatari Diar and Delancey. Phase one of the Elephant & Castle Town Centre redevelopment was a joint venture between APG and Delancey.
Jamie Ritblat, chief executive of Delancey, said the partners would be looking for schemes similar in scale to the Olympic and Elephant & Castle sites “and not restricted to London”.
“We have been focused on London, but we will cast our net wider if we find the right opportunities and the right scale.”
Get Living London, Delancey’s management and lettings arm at East Village, will manage all the homes, while Delancey and Qatari Diar’s UK development company will work jointly on all the venture’s development activities.
Ritblat said there was no limit to how much capital could be committed, nor any time limit. “We want to find the right projects and develop these out. I can’t comment about how many schemes QD or APG will develop, but I don’t mind,” he said.
“Scale is what we are about,” he added. “As in all businesses with multiple operations, the key is to maintain the quality of what we do, wherever we do it.”
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