Northwood and PLATFORM_ form BTR JV

George Sell George Sell Uploaded 24 May 2021

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UK: BTR developer and operator PLATFORM_ has formed a JV with Northwood Investors to deliver projects across the UK.

The JV has an initial pipeline of three developments, totalling 1,039 apartments in Glasgow, Sheffield and Cardiff. In Glasgow, it will build 498 homes at Central Quay in Finnieston, overlooking the River Clyde. In Sheffield it will deliver 335 apartments in the Moor Quarter, while in Cardiff it will build 206 apartments close to Cardiff Central train station.

All three projects have planning permission and are under construction, with completion scheduled for 2022 and 2023. The JV was advised by Eastdil Secured and Franklin Bay.

PLATFORM_ has a pipeline of an additional 1,500 units outside the JV.

“We are delighted to have formed this partnership with Northwood Investors to accelerate our delivery of new homes for rent in Cardiff, Glasgow and Sheffield. We are looking forward to being amongst the first Build to Rent operators in these dynamic and growing cities and providing our new residents with thoughtfully designed accommodation and excellent customer service at affordable rents. Northwood Investors have a vast amount of experience in developing and operating Build to Rent assets in the US and so we are excited about the benefits of combining our expertise to develop great homes across the UK," said PLATFORM_ chief executive Jean-Marc Vandevivere.

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