The Joint Venture is being supported by Homes England, the housing agency of the UK Government, and is targeting the establishment of an initial portfolio of approximately 3,000 homes with a value in excess of £1bn.
They will be predominantly located in transport Zones 3-6 and in close proximity to transport links, including train access to central London.
Homes will be let at market-rate rents under Sigma’s ‘Simple Life London’ brand. This new brand is an extension of Sigma’s existing ‘Simple Life’ rental brand and shares the same aim of bringing a higher standard of customer care and convenience to the private rental market.
Under the terms of the partnership, EQT Real Estate and Sigma have initially committed equity of £300m and £16m respectively to the Joint Venture.
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
EQT Real Estate, part of EQT Partners and Investment Advisor to EQT managed real estate funds, seeks direct and indirect controlling interests in value-add real estate assets, portfolios, operating companies and platforms across gateway cities in the UK and Europe that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active asset management. The EQT Real Estate Advisory Team comprises experienced Investment Advisory Professionals working out of EQT’s offices in London, Madrid, Milan, Paris and Stockholm. The Investment Advisory Team, which has access to the full EQT network has experience analysing and investing across the pan-European real estate market and has, collectively, advised on over 130 real estate projects in multiple asset classes across Europe.
Sigma has its own rental brand, ‘Simple Life’, through which the new homes for EQT are typically let. The brand has been created to set a new gold standard in the private rental market. Visit the Simple Life London consumer website: simplelifelondon.co.uk