RDI REIT becomes Brightbay

RDI REIT has been renamed Brightbay Real Estate Partners. The company, which was taken private by Starwood in a £468m deal in May 2021, will remain a fully integrated REIT despite the name change. Brightbay chief executive Stephen Oakenfull said: “Establishing Brightbay Real Estate Partners as the company’s new brand and identity marks a new chapter for the business with the backing of one of the world’s largest private equity real estate investors.” He said the changes presented an “exceptional opportunity to identify and unlock value from direct and indirect real estate investments”. Oakenfull added that new technologies and the need to decarbonise real estate’s impact on the environment required skills and considerable financial clout. “I believe this is an exceptionally exciting time to be building a business like Brightbay, which brings together end-to-end real estate capabilities and strong financial backing,” he said. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews