Real estate investment firm Kennedy Wilson and joint venture (JV) partner Canada Pension Plan (CPP) Investment Board have committed another £300m into the UK single-family rental housing market.
As part of this latest round of investment, the JV has exchanged contracts to acquire 788 units across 10 transactions. This brings the JV’s platform to around 2,000 homes across 23 sites.
These acquisitions are being financed through a £500m five-year debt facility from Goldman Sachs, which was originally announced in December.
The additional homes are located across Northampton, Nottingham, Hemel Hempstead, Watford, Wokingham, Bristol, Cheltenham and Didcot.
Since the £1bn JV was announced in October 2024, approximately £700m has been committed to the platform, with CPP Investments investing £500m of equity in capital and Kennedy Wilson acting as operating partner.
Many of the homes acquired by the JV were bought from existing partners including Barratt Redrow, Miller Homes and Wavensmere, alongside new partners Persimmon Homes, Taylor Wimpey and Vistry.
Mike Pegler, president of Kennedy Wilson Europe, said these transactions “deliver further growth for the JV in strategic locations in the UK where demand for rental housing is acute”.
“We have established strong relationships with leading housebuilders and are already under offer on further units as we continue to scale the platform to our target of 4,500 homes,” he added.
Tom Jackson, managing director and head of real estate Europe at CPP Investments, said: “Reaching 2,000 homes is a key milestone for our JV with Kennedy Wilson and our continued investment into this venture aligns with our real estate strategy, to undertake scalable investments into high-quality assets and deliver attractive risk-adjusted returns for the CPP fund.”
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