Kennedy Wilson jv adds 650 homes to its portfolio
Kennedy Wilson has acquired 650 homes from three separate housebuilders across seven development sites for £213m on behalf of its single-family rental housing joint venture with Canada Pension Plan Investment Board.
The jv platform will now have more than 900 homes in its portfolio. The £1bn single-family rental housing joint venture was formed in 2024.
CPP Investments had invested £500m, with Kennedy Wilson committing £56m. The jv has an initial target of approximately £1bn of asset value, including leverage, with the potential to commit further capital depending on market opportunities.
Kennedy Wilson has acquired 650 homes from three separate housebuilders across seven development sites for £213m on behalf of its single-family rental housing joint venture with Canada Pension Plan Investment Board.
The jv platform will now have more than 900 homes in its portfolio. The £1bn single-family rental housing joint venture was formed in 2024.
CPP Investments had invested £500m, with Kennedy Wilson committing £56m. The jv has an initial target of approximately £1bn of asset value, including leverage, with the potential to commit further capital depending on market opportunities.
The Canadian investor holds 90% of the venture and Kennedy Wilson 10%.
The sites are located in Bedford, Cambridge, Derby, Didcot, Great Dunmow, Ipswich and Wolverhampton. Kennedy Wilson currently has an active pipeline of opportunities totaling over 1,000 homes, with the capacity to reach 4,000 homes at full capital deployment.
Mike Pegler, president at Kennedy Wilson, Europe, said: “In the short space of three months, we have successfully executed on our pipeline and amassed a portfolio of over 900 units across the UK, establishing ourselves as one of the most active players in the UK single-family rental housing sector.
“We are seeing strong appetite from leading housebuilders to form new partnerships and strengthen existing relationships as they look to make ‘build to rent’ housing a key strategic pillar within their businesses. As a result, we have benefitted from a number of repeat deals which have significantly increased our pipeline, enabling the partnership to continue deploying capital at speed and scale.”
