The investment arm of US property group CBRE and build-to-rent (BTR) landlord Moda Living have launched a fund to build thousands of single-family rental homes across the UK.
The fund has launched with an initial £400m investment from CBRE IM (picture: Moda Living)
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The investment arm of US property group CBRE and build-to-rent landlord Moda Living have launched a fund to build thousands of single-family rental homes across the UK #UKhousingCBRE Investment Management has backed the fund with an initial £400m, which is expected to deliver 1,500 homes. The pair hope to grow the fund to a £2bn portfolio of around 7,500 homes by 2033.
The new fund, CBRE UK Single Family Housing Partners, will be built on “core, long-term capital”, CBRE said, and will address growing demand from residents and institutional investors for “high-quality, attainable single-family housing” across the UK.
Moda will co-invest in the platform and be responsible for building and running the properties. The fund will have access to a land bank of over 25,000 plots controlled by Moda’s parent company Caddick Group.
As well as Moda’s proprietary land pipeline, the fund will make “selective acquisitions” from house builders.
Andrew Davey, head of UK residential strategies at CBRE IM, said: “Single-family housing represents a compelling long-term opportunity, supported by strong demand fundamentals and a chronic undersupply of high-quality rental homes.
“CBRE UK Single Family Housing Partners is the result of significant engagement with our investment partners. It combines our institutional investment and asset management expertise with Moda Living’s established development and operational platform to deliver high-quality, professionally managed homes at scale.”
Johnny Caddick, chief executive of Moda Living, said: “This partnership marks an important step in scaling the delivery of institutional-grade single-family housing across the UK.
“By investing alongside CBRE IM and aligning with patient, core capital, we can take a long-term approach to delivery, bringing forward a significant pipeline of well-designed homes at scale into an underserved market with proven fundamentals.
“This will allow us to maintain a focus on quality and consistency, creating places designed for long-term living while supporting stable, sustainable performance for investors.”
CBRE IM has a 30-year track record of investing in residential property across Europe, with €13bn (£11.3bn) of assets under management. Its investments span affordable housing, multifamily and single-family private rental housing in the UK and Europe.
Through its UK affordable housing fund, the firm has delivered over 3,000 homes, with a total net asset value of approximately £700m.
Moda Living was created in 2013 and owns around 5,000 BTR and single-family private rented homes. It is expanding into purpose-built student accommodation, with its first schemes launching in 2027.
It launched a single-family platform, Casa, in 2021 with US investor Ares Management, although this focused on forward-buying homes from house builders rather than building homes with Caddick Construction. Casa had 686 single-family homes as of 2025, with a target of 5,000 homes.
Last month, New York-headquartered Apollo Global Management purchased Gatehouse Living Group, one of the UK’s biggest managers of single-family BTR homes.
Meanwhile, US investor Kennedy Wilson and Canada Pension Plan Investment Board announced they had bought 788 suburban BTR homes across the UK for £300m.
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