North American real estate company Brookfield has entered the UK affordable housing market following the acquisition of a for-profit registered provider.
The acquired provider was WH Housing, which has now been renamed URSA Affordable Housing, Property Week understands. The transaction forms part of the firm’s plans to push capital into the UK’s constrained affordable housing sector.
Brookfield completed the acquisition at the end of last month for an undisclosed sum and is now working with Sigma Capital Group as operating partner.
Sigma Capital Group said it will provide a full range of services to Brookfield, from site origination through to lettings, sales and property management.
According to Companies House, URSA Affordable Housing was incorporated on 4 February 2020.
Brookfield’s strategy, still in its early stages, also seeks opportunities to bring in long-term institutional capital.
It has appointed Gordon More, Alexandra Notay and Karen McElhatton as non-executive board members to support these plans.
More previously served as chief executive and chief investment officer at Homes England, and currently holds a number of housing board roles, including at Hyde Housing Group and Housing Growth Partnership. He also served as an independent non-executive director of Sigma Capital Group.
Notay, who has more than 20 years of experience in the sector, previously served as placemaking and investment director and Thriving Investments and chairs Radix Big Tent Housing Commission. Notay has also advised the Ministry of Housing and Homes England.
McElhatton served as an independent non-executive director of The Hyde Group, where she chaired the Housing Services Board and subsidiary registered-provider boards. Her executive career includes senior technology and transformation roles at organisations including McLaren Group, Natura &Co and TJX Europe.
Brookfield has declined to comment.
In May, BGRE, formerly Brookfield Properties, which owns a stake in Canary Wharf Group, has completed 1m sq ft of leasing deals across its City of London and West End portfolio since the start of 2025.
Earlier this year, the firm also entered talks with private equity firm Castleforge to acquire London’s Citypoint tower for roughly the value of the outstanding debt secured against it.
