KKR Acquires Build-to-Rent Portfolio in Manchester from L&G

KKR and its European living sector platform Inhabeo announced the acquisition of The Slate Yard in Manchester from L&G for over £100 million. The portfolio comprises 424 residential units across three high-quality Build-to-Rent properties totaling 270,000 square feet, located near Manchester’s central business district.

The acquisition aligns with KKR’s strategy of investing in high-quality, strategically located residential assets in major European urban centers. The properties feature sustainability credentials and include amenities such as gyms, lounges, and co-working spaces.

This deal expands KKR’s UK and European residential real estate presence, adding to investments in London, Birmingham, Brighton & Hove, and multiple countries across Europe. It follows recent projects like No. 1 St Michael’s, which reached full occupancy in December 2024.

L&G stated that the sale supports its goal of reinvesting in the Build-to-Rent sector to help address the UK’s housing shortage. Inhabeo now manages over £500 million in European living sector investments alongside KKR, with plans to further expand into student housing and residential assets.