Moda Living funding deal for seven build-to-rent jobs

Moda Living has struck deals to finance seven major city centre build-to-rent schemes totalling 7,000 flats

The Harrogate-based build-to-rent developer, which is part of family-run Caddick Group, has a £2bn pipeline of homes for rent with buildings set to include communal lounges, rooftop gardens and even a running track.

The funding deal will see a new joint venture between Moda’s backers Apache Capital and Harrison Street, with additional investment from the National Farmers Union Mutual.

Kier will start phase one of the SOYO scheme in Leeds early next year[/caption]

Moda Living’s plans for a 42-storey tower in Broad Street, which is now out to tender[/caption]

“Being able to attract long-term, institutional capital is crucial if we are to build more homes. This is a major vote of confidence in build-to-rent and proof positive that Moda is well positioned to continue expanding and look at further acquisitions over the coming year.”

House price growth, demographic shifts and changes in consumer habits have seen renting more than double over the last 15 years.

Many investors are looking to increase their exposure to build-to-rent as a defensive, counter-cyclical asset class.

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from Construction Enquirer http://www.constructionenquirer.com/2018/10/12/moda-living-funding-deal-for-seven-build-to-rent-jobs/

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