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Alecta commits £250 million to APG-backed Delancey Oxford UK BTR venture

Alecta has invested £250 million (€276m) in Delancey Oxford Residential (DOOR), a UK build-to-rent (BTR) platform backed by Dutch pension fund asset manager APG and Qatari Diar.

DOOR is a residential investment vehicle, co-sponsored by Oxford Properties Group and Delancey Real Estate Asset Management advised client fund DV4.

Oxford and Delancey said the commitment from the €95bn Swedish pension fund is the first funding the platform has sourced from an external investor.

DOOR, which was seeded with £600m of capital from Oxford and DV4, acquired a 39% stake in Get Living in August 2018. The Alecta investment brings DOOR’s current capital commitments to up to £850m.

The capital will be used to invest in Get Living’s existing development pipeline and for further large-scale acquisition opportunities.

Get Living currently targets up to 12,000-14,000 homes across the UK.

Source: realassets.ipe.com on 16 March 2020 (https://realassets.ipe.com/news/alecta-commits-250m-to-apg-backed-delancey-oxford-uk-btr-venture/10044313.article)