A housing association is continuing to push into the private rented sector by buying a portfolio of new properties.
The Thames Valley Housing Association’s Fizzy Living business has bought 45 units from Bellway Homes.
The units are all in one building, New Festival Quarter at Poplar, east London, with completion due at the end of this year.
The purchase is the first since Fizzy Living obtained £40m from backers Macquarie Capital in February.
Fizzy Living plans to bring 1,000 private rental apartments on stream within five years, and has been an early front-runner in the burgeoning build-to-rent industry.
Thames Valley Association will collect rents, and manage and maintain the properties from rental income. It is planning to raise £170m to buy more private rented properties, in conjunction with financial partners.
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