is planning to raise 拢750m (鈧�849m) for its first UK built-to-rent fund.
The manager has launched UK Multifamily Fund I (GSUM I) 鈥� the first in a flagship series of UK rental housing funds 鈥� to target develop purpose-built rental housing properties in London.
Bob Faith, founder and CEO of Greystar, said: 鈥淭here鈥檚 a significant need for professionally developed rental housing in the UK as the current stock is under-supplied, outdated and poorly managed.
鈥淭he creation of this vehicle enables us to apply our market knowledge as well as our operational and development expertise to create an institutional-quality housing portfolio that appeals to a diverse base of renters.鈥�
Mark Allnutt, Greystar鈥檚 senior managing director of investment management, UK, said: 鈥淟aunching this vehicle represents an important milestone in further expanding our operations in the UK.
鈥淲e have established a strong track record of putting capital to work in UK rental housing and are currently evaluating a robust pipeline of investment opportunities as we work to further institutionalize the sector.鈥�
Greystar entered the UK market in 2013 and has nearly 拢5bn assets under management in the UK.
