GREYKITE European Real Estate Fund I and Gatehouse Living Group, on behalf of their recently launched £750million Joint Venture, have acquired two off-market portfolios of purpose-built single-family rental (SFR) homes.
The two acquisitions, from leading housebuilders Keepmoat and Barratt Redrow Plc, take the JV’s portfolio to over 1,000 homes across 26 sites since its launch in November 2024. Simultaneously, GREYKITE has launched ‘Uniqhomes’ as its UK SFR platform brand, which will be adopted by the JV across its portfolio.
Consistent with the strategy across the wider Uniqhomes portfolio, the newly acquired properties are located on established suburban housing sites, in locations with supportive demographic fundamentals and strong transport links and local amenities. The six-site portfolio from Keepmoat totals more than 250 homes across Yorkshire, and the three-site portfolio from Barratt Redrow Plc totals more than 130 homes in Lancashire and Shropshire. As with previous acquisitions, all homes will have an EPC rating of B or higher and will be managed by Ascend, the UK’s largest manager of SFR housing.
In anticipation of entering the income production and stabilisation phase, the JV has successfully converted its asset holding structure into a non-traded UK REIT, to be chaired by GREYKITE senior partner, Dan Valenzano.
Michael Abel, founder and CEO of GREYKITE, commented: “The launch of Uniqhomes and the continued growth of our UK SFR strategy is a further example of GREYKITE’s ability to build and scale platforms in our high conviction sectors. We look forward to developing the Uniqhomes brand as we continue to build a differentiated SFR platform, and we remain very pleased with the significant recent institutional investment activity across the sector.”
Dan Valenzano, senior partner of GREYKITE, added: “I am excited to be chairing this important platform for GREYKITE. Conversion to a non-traded UK REIT is an appropriate holding structure for Uniqhomes, supporting its ability to make income distributions and continue to scale through acquisitions. Building on our strong progress to date, we look forward to bringing these sites forward with our new delivery partners at Keepmoat and Barratt, and with the ongoing support and financing of NatWest.”
Paul Stockwell, group managing director of Gatehouse Living Group, added: “These latest acquisitions – strategically located and meeting key sustainability criteria – are perfectly aligned with the platform’s investment approach, and represent significant additions to the portfolio. The speed with which we have been able to deploy capital – acquiring over 1,000 properties for the GREYKITE strategy in just seven months – and deliver homes highlights the capabilities across the entire team and demonstrates our level of ambition in the SFR sector.”
