PATRIZIA and Man GPM launch new joint venture to create GBP 100 million residential platform for the UK’s affordable sector

Joint venture will deliver new-build environmentally and socially sustainable housing across England

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PATRIZIA, a leading partner for global real assets, and Man GPM, the private markets investment business of Man Group plc, have launched a new joint venture (JV) targeting an investment programme of GBP 100 million into the development of environmentally and socially sustainable housing for the UK’s affordable sector.

The partnership between PATRIZIA and Man Group brings together two global investment managers with strong alignment on creating a positive impact within communities. The JV comprises PATRIZIA’s SFDR Article 9 impact strategy, PATRIZIA Sustainable Communities, and Man GPM, which has an established presence in the UK affordable housing sector. Capital for the JV will be provided by PATRIZIA Sustainable Communities and Man Group, with Man GPM acting as the operating partner through its Community Housing team.

The JV will invest in the development of new-build single-family rental homes to help address the acute shortage of good quality housing for mid-market renters in locations around England where housing affordability is poor. Sustainability is at the core of the platform, with all homes to be developed to a minimum EPC A rating, targeting Home Quality Mark 4* and targeting a zero operational carbon footprint. Each development will also have ecological initiatives and enhance biodiversity and look to make a positive impact on local communities through a combination of innovative environmental and social initiatives.

The JV has already commenced its GBP 100 million investment programme with a commitment to forward-fund the development of 70 new-build homes on long-term affordable rents in Milton Keynes, which is less than 50 miles north of London.

You can now read the full press release at the link below