Hearthstone makes largest BTR buy from £200m fund

Hearthstone Investment Management has acquired 100 build-to-rent homes for £31m in three forward-funding transactions on behalf of Hearthstone Residential Fund I. The homes are a combination of houses and low-rise apartments acquired from housebuilders in suburban locations in Manchester, Nottinghamshire, the Midlands and Southern England. Hearthstone IM is targeting rental homes for professionals, families and key workers in well-connected locations. This round of acquisitions marks the largest investment to date from the £200m fund, which is now half deployed with a current portfolio of 600 homes. Hearthstone will seek to invest the remaining finance over the next 12 months. It closed