Starlight Closes £680m UK Build To Rent Fund
Starlight UK BTR Fund II closes with £680 million in commitments to support more than 6,000 rental homes across the UK.
Starlight Investments has closed its UK Build To Rent Fund II, securing £680 million in capital commitments across the fund and ancillary investment vehicles. The capital is set to support the acquisition and delivery of more than 6,000 build-to-rent homes across the UK. Fund II is already partly deployed in three significant rental communities under construction, comprising two projects in Manchester and one in Basildon. The close marks a substantial expansion of Starlight’s residential platform, which has 12 BTR communities in development, leasing and operations.
Institutional Support For Fund II
Fund II attracted institutional investors from Europe, APAC and Canada, including existing limited partners and new investors. Earlier in the year, the fund also received a major commitment from Homes England’s National Housing Bank, supporting its focus on increasing rental housing supply.
Raj Mehta, President, Global Markets at Starlight Investments, said:
“The successful close of Fund II reflects the strong institutional conviction behind Starlight's UK residential strategy and the opportunity we continue to see in the market. We are grateful for the continued support of our existing partners and pleased to welcome new investors to the platform. With the capital committed, we are well positioned to continue delivering homes in chronically undersupplied markets across the UK.”
Expanding UK Residential Platform
Starlight’s UK platform is dedicated to build-to-rent homes in major regional cities and London commuter belt markets. Its portfolio spans communities at development, active leasing and operational stages, with a focus on professionally managed rental housing.
Jonnie Milich, Head of UK Residential at Starlight Investments, said:
“With Fund II now closed, our focus is on execution and the next phase of growth for our UK residential platform. We have built a significant pipeline, an experienced local team and a growing portfolio of communities moving through construction, lease-up and operations. As we continue to advance our pipeline and bring new communities online, our portfolio will place us among the UK's top four BTR operators by scale.”
Scale And Delivery Focus
The fund’s close gives Starlight additional capital to progress its development pipeline and bring new communities into the market. The firm has operated as a global real estate investment and asset management business for more than three decades, managing and investing on behalf of institutional partners across several continents.
