KKR and Apache add £610m to BTR drive

KKR and Apache Capital have committed £610m to build-to-rent in the UK. Global private equity firm KKR has agreed to back Apache Capital’s £1.7bn prime city centre BTR strategy, providing 4,000 homes built by developer Moda Living. KKR’s investment follows a separate partnership with Moda Living agreed last week to forward-fund a £1bn pipeline of more affordable city fringe flats. The latest deal will take a similar strategy, focusing on Apache’s sites in Birmingham, Brighton and Hove and London. John Dunkerley, chief executive and co-founder of Apache Capital, said: “Our strategic partnership with KKR demonstrates the growing maturity of the UK build-to-rent sector, which continues to attract global institutional capital thanks to its favourable demand-supply dynamics and defensive, counter-cyclical characteristics.” To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Image © Apache Capital