Wise Living secures additional GBP100m in funding
Wise Living, the SDL Group’s build-to-rent (BTR) division, has entered into an agreement with investment manager, Triple Point, which will deliver more than GBP100m of funding over the next 18 months.
This is in addition to the GBP33 million committed by ICG Longbow in October 2019 - adding a second round of funding to the Group’s BTR strategy.
With Wise Living in active conversations with multiple developer partners, this additional capital will boost its efforts to build more partnerships, delivering thousands of high-quality BTR homes for families across the UK.
Wise Living already has several BTR schemes nationwide including sites in Birkenhead, Telford, Mansfield and Coventry. This latest GBP100 million will accelerate its work with developer partners on a pipeline of schemes across the country.
Wise Living is challenging the standards set in the private rental sector (PRS) by putting the tenant at the heart of everything it does, making it the provider of choice for tenants, local authorities and developers across the UK. Wise Living’s focus is on delivering two and three bed professionally managed family homes, offering a quality alternative to existing rental stock.
Following the investment, Andy Deller, Director at Wise Living said; “To add Triple Point as a new funding partner that is willing to invest a further GBP100 million, so soon after our GBP33 million boost, is a major vote of confidence in the quality of our work as a partner to both developers and investors.