Savills Investment Management Sets Up $241M UK Build-to-rent Fund with Ara’s Lim Family

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Savills Investment Management has launched its second UK-focused fund which is backed by John Lim’s ARA Asset Management for a build-to-rent development strategy.

The aim of the fund is to raise £200 million ($241 million) to develop high-quality and professionally managed housing stock in the UK market. The strategy will support the brokering and research capabilities of the Savills IM team located in the London headquarters.

The core investor of the recent fund is The Land Managers, which serves as the real estate investment division of the JL Family Office based in Singapore. The Land Managers have also invested in Savill IM’s retail park fund of 2021, along with Straits Real Estate (the property investment unit of The Straits Trading Company conglomerate).

“TLM’s strategy is to increase our exposure to defensive assets that benefit from long-term structural supply and demand dynamics, and the build-to-rent residential sector in the UK is one such sector that we are very optimistic about,” said Andy Lim, group CEO of the JL Family Office, founder of The Land Managers and the son of John Lim.

Local Advisory Acquisition

The new fund launch coincides with Savill IM’s acquisition of Pitmore, the UK residential specialist. Pitmore was founded in 2012 by Vittore Davico and will now advise Saville IM’s on the largest housing development sites in the UK with more than £3 billion potential gross development value.

Alex Jeffrey, Savills IM CEO said that the partnership with The Land Managers and the acquisition of Pitmore align with the fund managers’ objective to strengthen operational expertise in residential sectors.

“We have great faith in the capability of the Pitmore team and we welcome them to Savills IM,” said Jeffrey. “We are delighted to be working again with TLM,” he added.

The build-to-rent fund will develop and fund single, as well as multi-family residential assets, while focusing on regeneration areas, and well-planned schemes that portray access to growing empowerment hubs, favorable renter demographics, and supply-demand imbalances.

‘SAVILLS IM SETS UP $241M UK BUILD-TO-RENT FUND WITH ARA’S LIM FAMILY’– Mingtiandi

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