CBRE has completed the purchase of Telford Homes in a £267m deal.
The acquisition of the housebuilder will enable the company to move into the rapidly growing Build to Rent sector, with the firm planning to focus specifically on the market in London.
Telford Homes will be under the umbrella of Trammell Crow, CBRE’s real estate development subsidiary.
Jon Di-Stefano, chief executive officer at Telford Homes, commented: “We now have enhanced capabilities to raise capital, acquire the nest sites and deliver high-quality properties that meet rising demand for rental housing.”
Telford Homes signed a deal in June to deliver 894 new rental flats at Nine Elms in London with developers Henderson Park and Greystar.
CBRE president and CEO, Bob Sulentic, said: “The UK is in the early stages of a secular shift toward institutionally owned urban rental housing, and Telford Homes’ talented team positions us to lead this trend.”