Canadian asset manager Fiera Capital has announced plans to build a £1bn UK single-family build-to-rent (BTR) portfolio.
Fiera Real Estate UK and Packaged Living have recently completed a first close for their new UK single-family housing fund (picture: Richard O’Donoghue)
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Canadian asset manager Fiera Capital has announced plans to build a £1bn UK single-family build-to-rent portfolio #UKhousingThe asset manager’s European real estate arm, Fiera Real Estate UK, in partnership with UK rental living platform Packaged Living, has completed the first close for their new UK single-family housing fund, Fiera Real Estate Single-Family Housing (FRESH).
The fund has secured seed capital from a group of institutional investors, enabling immediate deployment into an existing pipeline. Inside Housing Living understands the fund currently has a total of around £100m of debt and equity to deploy.
Fiera owns a minority stake in Packaged Living, but this is the first time the two organisations have launched a fund together.
The fund is also focused on rental homes across supply-constrained locations, targeting average deal sizes of 50 to 200 homes.
It will invest through forward-funding and forward-commitment agreements with developers and house builders. The fund will also use the Sustainability Impact label under the UK Sustainable Disclosure Regulation, with the goal of facilitating the availability of private rental single-family homes in underserved locations.
Fiera Capital is headquartered in Montreal, Canada. Fiera Real Estate, a wholly owned subsidiary of Fiera Capital, manages over $8.7bn (£6.5bn) of commercial property globally as of March 2026.
Fiera Real Estate’s European division, founded in 1992, is headquartered in London. Together with its operating network, it directly manages £2.6bn of assets under management and has a pipeline of more than 12,500 homes as of March 2026.
Packaged Living is Fiera Real Estate’s rental living arm, acting as investment manager, developer and operator in the UK and Europe.
The firm invests in, builds and manages residential portfolios on behalf of institutional capital, with targeted strategies in multifamily, single-family, garden-style, co-living and flex-living.
Packaged Living was launched in 2018. It is currently developing and operating around 4,000 homes and has a portfolio with a gross development value of £1.3bn as of March 2026.
Packaged Living formed a single-family housing partnership with investor Aviva in 2021. Last year, Aviva announced that it had completed investments in 10 single-family developments with Packaged Living, resulting in a total fund commitment of over £500m.
Inside Housing Living understands the partnership with Aviva is entirely separate to the new single-family fund with Fiera Real Estate UK.
Charles Allen, head of European real estate at Fiera, said: “FRESH provides investors with access to a highly defensive sector that continues to demonstrate resilience in this market cycle.
“This fund further enhances our ability to deliver stable cashflows within our diversified portfolio, marking another significant step in our growth journey.”
Ed Ellerington, chief executive of Packaged Living, said: “Single-family rental housing has evolved from a granular asset class to an increasingly mature investment opportunity that is scalable and operationally efficient.
“We will leverage our full life cycle expertise and established track record to deliver a high-quality and sustainable housing product.
“This will offer downside protection, growth prospects, and measurable sustainability and impact benefits for institutional capital.”
Last month, Greystar said it is aiming to build 20,000 suburban BTR homes in the UK in the next four years modelled on ‘garden-style’ apartments in the US.
The US BTR giant closed its latest European housing fund in June with €2.7bn (£2.3bn) of total commitments.
Also in June, Oxfordshire Pension Fund finalised a £55m investment in Man Group’s Community Housing Fund. The £55m will go towards the building of affordable homes in Oxfordshire and across the country over the next few years.
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