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Build to rent brand to go global

Build to Rent operator Atlas Residential has revealed that it will deploy over £800m through its affiliate Atlas Residential Holdings (Hong Kong) Limited to establish a first ever global multifamily apartment portfolio via its discretionary private opportunity fund.

The targeted portfolio will be made up of several thousand existing Atlas units and newly acquired value-add and development properties throughout the US, UK and mainland China.

The portfolio will be allocated as follows: 65% US, 20% China and 15% UK, targeting value-add acquisitions or developments primarily in areas with large populations and strong employment levels.

“We want to blend the stability and continued growth of US multi-family assets with what we are seeing as coming sector distress in the UK with Brexit and in China with US trade war effects and government policy forcing developers to shift to rental development,” Steven Ivankovich, Atlas chief executive, commented.

In China, Atlas is working closely with developers who are struggling to sell units and are being forced to build properties exclusively for rent thanks to the recent change in government policy towards housing.

In the UK, meanwhile, recently appointed Atlas UK MD, Kelvin Sutherland, is focusing on projects in the Middlesex, Sussex, Kent, and Lancashire markets for the portfolio, as well as looking to acquire existing properties.

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