USAA Real Estate Forms BTR Venture with Packaged Living
Posted on 11/07/2022
USAA Real Estate and U.K. build-to-rent (BTR) investor Packaged Living formed a £1 billion joint venture. The JV will develop a portfolio of multifamily build-to-rent assets across the United Kingdom. The JV has completed on its first land acquisition in Liverpool. Packaged Living will be responsible for acquisitions and delivery of the joint venture’s portfolio.
Ed Ellerington formed Packaged Living. Before that, Ed Ellerington was leading Grainger Plc’s acquisitions team, investing over £500 million in schemes across the U.K. including Clippers Quay in Salford, Finzels Reach in Bristol, and the former Yorkshire Evening Post site in Leeds.
