Grainger and French construction giant Bouygues have launched a residential fund to tap into institutional demand for exposure to the private rented sector.
The partners aim to raise around £150m of equity and co-invest in the Bouygues & Grainger Fund.
The build-to-let vehicle has already lined up our sites – in Barking and Canning Town in east London and in Maidstone, Kent – that have permission for more than 1,000 homes.
Bouygues will build the assets in phases over around three-and-a-half years ith construction expected to begin in the first quarter of next year.
Landlord Grainger will operate the portfolio and provide property management, lettings, facility management and fund and asset management.
