The Joint Venture is being supported by Homes England, the housing agency of the UK Government, and is targeting the establishment of approximately 6,000 homes with a value in excess of £2bn.
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 Exeter and Sigma initially committed equity of £300m and £16m respectively to the Joint Venture. Due to the success of the initial commitment, the fund has been doubled with equal investment and a target of c.6000 new apartments.
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 Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of Exeter Property Group and EQT.
A global leader in sheds, beds, and meds, EQT Exeter currently oversees a portfolio totalling over 350 million square feet across 1,800 buildings, while executing a tenant-centric strategy. The EQT Exeter Team comprises more than 300 experienced professionals operating in 44 offices around the globe. Together, they have consummated over 850 real estate investments. As part of EQT, the team leverages the firm’s industry-leading sustainability credentials and framework and in-house digitalization skills to generate increased value for its investor clients.
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