CBRE Investment Management Launches UK Single-Family Housing Strategy With Moda Living, Backed by £400 Million in Capital

CBRE Investment Management has launched a UK Single Family Housing strategy in partnership with Moda Living, backed by an initial £400 million in core, long-term capital, the firm announced May 18. The platform targets growth to £2 billion in value over time, addressing what both firms describe as a chronic undersupply of purpose-built single-family rental housing in the UK market.

Strategy Overview and Partnership Structure

The new strategy is structured around an exclusive partnership between CBRE Investment Management and Moda Living, with Moda co-investing in the platform. Central to the arrangement is access to a residential land bank of more than 25,000 plots controlled by Moda's parent company, Caddick Group, providing the venture with a proprietary pipeline of development sites across the UK.

The platform will combine CBRE Investment Management's institutional investment and asset management capabilities with Moda Living's development and operational infrastructure. The strategy targets both standing assets and development opportunities, with sourcing drawn from the Caddick-controlled land pipeline as well as selective acquisitions from third-party housebuilders.

"Single family housing represents a compelling long term opportunity, supported by strong demand fundamentals and a chronic undersupply of high quality rental homes," said Andrew Davey, Head of UK Residential Strategies at CBRE Investment Management. "This strategy is the result of significant engagement with our investment partners. It combines our institutional investment and asset management expertise with Moda Living's established development and operational platform to deliver high quality, professionally managed homes at scale. We believe our approach will deliver a truly differentiated approach for both our investors and residents."

Johnny Caddick, CEO of Moda Living, said the partnership enables a long-term approach to delivery. "By investing alongside CBRE IM and aligning with patient, core capital, we can take a long-term approach to delivery, bringing forward a significant pipeline of well-designed homes at scale into an underserved market with proven fundamentals," Caddick said. "This will allow us to maintain a focus on quality and consistency, creating places designed for long-term living while supporting stable, sustainable performance for investors."

Market Context and Institutional Demand

The strategy is designed to address what both firms characterize as a structural shortage of quality rental housing across the UK. CBRE Investment Management reports approximately €13 billion in European residential assets under management, spanning affordable housing, multifamily, and single-family private rental housing across the UK and Europe. The firm's UK Affordable Housing strategy has delivered more than 3,000 homes with a total net asset value of approximately £700 million, providing an operational precedent for the new single-family vehicle.

The new strategy also builds on CBRE Investment Management's activity in continental Europe. In the Netherlands, the firm is constructing a residential portfolio of more than €1 billion on behalf of APG, one of the world's largest pension funds.

Platform Scale and Acquisition Approach

The £400 million in initial available capital is described as core, long-term capital. The stated ambition to grow the platform to £2 billion in value over time implies a multi-year deployment horizon supported by both the proprietary Caddick land pipeline and acquisitions from third-party housebuilders.

Moda Living itself manages £2 billion in assets under management and has £1.1 billion under construction across build-to-rent, purpose-built student accommodation, and single-family housing. Caddick Group, Moda's parent, operates a development pipeline of 34,000 homes with a gross development value of £9.8 billion, alongside 21 million square feet of employment space.

The multi-tiered sourcing structure — proprietary land plus third-party housebuilder acquisitions — is described by the firms as intended to provide flexibility across market cycles.

Firm Background

CBRE Investment Management, an independently operated affiliate of CBRE Group, Inc., reported $155.2 billion in total assets under management as of March 31, 2026, across 20 countries. The firm cites a 30-year track record in European residential real estate investment and describes the new strategy as a natural extension of its existing UK residential platform, which includes two other dedicated residential strategies in addition to the Affordable Housing proposition.