Goodstone Living Establishes First Uk Build-To-Rent Residential Fund

Goodstone Living has established its first fund targeting the build-to-rent residential real estate sector following the final close of Goodstone Living Partners 1 (the Fund).

Goodstone Living's Smith's Garden, BirminghamThe Fund, which is subject to Article 8 under the EU’s Sustainable Finance Disclosure Regulation, has secured equity investments from a number of UK and international investors including Northern Local Government Pension Scheme (Northern LGPS), providing the specialist real estate develop
er and investment manager with over £550 million of investment capacity.With a ‘develop-to-hold’ investment strategy, the Fund is focused on delivering and operating the next generation of rental residential communities across London and major regional UK cities for long term ownership. The Fund’s initial portfolio comprises almost 1,000 high quality homes already under construction in Edinburgh and Birmingham. The Fund will also be the primary vehicle for Goodstone Living's pipeline of development and turnkey opportunities until its capital has been substantially allocated.The Fund is focused on both decarbonisation and social value initiatives, specifically targeting a +30 per cent reduction in embodied carbon emissions1 and +50 per cent reduction in operational carbon emissions2. Rental homes will be offered at mid-market price points, with +50 per cent of private units to be attainable by +50 per cent of local residents. All buildings will also be designed with dual staircases to maximise resident safety and wellbeing.