QuadReal takes over Realstar's UK & Ireland residential platform

QuadReal Property Group has acquired the UNCLE brand across the UK and Europe, along with Realstar's UK & Ireland residential operating platform, which will be rebranded. 

Realstar

This move consolidates the operating company entirely under QuadReal's ownership.
Ryan Prince will continue as CEO for a 12-month transition period, after which he will assume the role of non-executive chairman. The existing team will remain in place to drive the business's expansion.
This acquisition marks the culmination of a long-standing partnership between QuadReal and Realstar, which began with their first joint venture in 2017. The relationship deepened through further asset acquisitions, and in 2021, QuadReal acquired a minority stake in Realstar's UK operating company.
The platform currently manages nearly 6,000 residential units in major cities, including London, Manchester, Birmingham, Leeds, and Dublin. A significant portion of these properties operate under the highly-regarded UNCLE brand, recognized for its award-winning design, extensive amenities, and innovative, flexible resident services. UNCLE consistently ranks as the top rental brand in the UK on platforms like Trustpilot.
QuadReal plans to further expand its Build-to-Rent (BTR) and student housing portfolios in the UK and Europe, utilizing the established strength of the UNCLE brand in these markets.
This transaction does not impact Realstar's other UK assets outside of the joint venture, nor does it affect Realstar's Canadian or other international operations. Realstar will continue to actively seek new investment opportunities in the UK and Ireland independently.
Jonathan Dubois-Phillips, president, International Real Estate at QuadReal said: “This furthers QuadReal’s global residential strategy and positions us well for future growth in both the built-to-rent and student housing markets. We have a solid residential foundation in the UK because of our partnership with Realstar, and QuadReal will continue to deliver value through operational excellence and solid portfolio and asset management.”
Ryan Prince, vice chairman of Realstar and founder of UNCLE, added: “Since the establishment of our UK business, we have worked across sectors from GP surgeries to hotels, BTR, student accommodation and co- living. QuadReal’s investment, particularly over the past five years, has turbo-charged our growth, and the business is now in its strongest position yet. I look forward working alongside QuadReal on the UK BTR and student fronts while at the same time seeking out new opportunities for Realstar to grow in the UK and Europe.”
Globally, QuadReal’s portfolio includes over 65,000 residential units and 28,000 student beds, predominantly in North America and Australia. In the UK, QuadReal has over 8,500 residential units and 4,500 student beds across 29 communities.