Qatar’s sovereign wealth fund has sold its 22% stake in Get Living, the build-to-rent developer and operator that owns the former Olympic village in Stratford, east London.
It had been seeking between £400m and £500m.
Aware Super, an Australian pension fund, has now taken the stake, which Qatari Diar acquired a decade ago as one of Get Living’s founding investors.
Aware Super manages the pensions of more than 1m Australians and has about £80bn under management. It will join the existing investors APG, a Dutch pension fund, and Door, both of which own 39% stakes in Get Living. Door is a residential investment vehicle that invests money on behalf of clients of Delancey. The vehicle also includes investment from Oxford Properties, Alecta, Allianz and LPPI.
Get Living has 4,000 homes in its portfolio in three neighbourhoods, comprising two in London and one in Manchester. It has another 6,500 flats in its pipeline.
