Strategic Joint Venture Formed With KKR
Property developer Regal Homes and KKR, a leading global investment firm, have entered into an exclusive strategic joint venture relationship to invest together in London-based residential-led mixed use schemes. The joint venture will be seeking to deploy a significant amount of capital to purchase strategic sites across London.
The joint venture forms part of KKR’s $739 million fund announced last year which is focused on opportunistic investments in real estate and real estate-related transactions primarily in Western Europe.
Striking the deal with KKR is a significant step for the privately owned developer. It will enable Regal Homes to build on the company’s successful track record of delivering much needed high quality housing, retail and office space in the capital.
Jenny Hammarlund commented “KKR is excited about partnering with a best-in-class operator and management team to find opportunities in the residential sector in London. This strategy fits well with our investment focus on creating value in strong locations by partnering with experienced management teams, and we look forward to working with Regal Homes”.
Simon De Friend and Paul Eden, Co-Founders of Regal Homes, commented: “Regal Homes is a natural partner for KKR in the London market. Both firms have a strong culture of innovation and excellence with a commitment to long term partnerships. The joint venture will provide significant opportunities for growth, returns and delivery and this additional funding stream will confirm Regal as one of London’s leading developers. It is an exciting time for Regal Homes.”