SDL Group’s build-to-rent arm business Wise Living has agreed a £100m funding deal with Triple Point.
The investment manager will provide the finance over 18 months, which Wise Living will use to build new partnership to deliver family rental homes.
Wise Living has a combined portfolio and pipeline of 1,900 units and a target to develop more than 6,000 homes in the next three years. It has 400 homes completed and in development, with schemes in Birkenhead, Telford, Mansfield and Coventry, and a further 500 homes secured.
Andy Deller, director at Wise Living, said: “This additional funding will help us to move up another gear with our plans to not just build homes and communities, but provide for the increasing demand for professionally managed PRS homes, particularly for families.”
The investment follows a £33m backing from ICG-Longbow last year, and a partnership with Lovell Homes to deliver 81 family homes in the Midlands and the North East.
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