News release

LaSalle Investment Management completes sale of BTR portfolio

JLL advise on the sale of the two stabilised BTR assets to LRC Group.

December 06, 2021

Alyssa Dwek

UK Communications Manager

JLL has acted on behalf of LaSalle Investment Management in the sale of two BTR assets located in London and Leeds to LRC Group. The portfolio comprises a total of 270 residential units and 72 parking spaces with Rathbone East, London providing 87 units and Waterside Apartments, Leeds offering 183 units.

The portfolio is bolstered by its location with both assets benefiting from strong transport links, excellent amenities and green spaces.

The BTR assets provide both scale and the opportunity to gain diverse exposure across two key UK housing markets. The portfolio also benefits from strong occupancy and stabilised rental income.

Jack Bergin, Living Capital Markets Associate at JLL, said, “Income producing Build-to-Rent assets in the UK have been historically scarce opportunities. This sale signifies a further maturing of the sector and demonstrates that there is substantial investor appetite for income producing assets of this nature.”

Philip Nell of LaSalle Investment Management commented “The sale of these assets followed considerable asset management over the last 5 years, and we are very pleased with the result.  Liquidity in the sector continues to develop, but overall there is still a significant lack of supply in the face of growing investor demand.  We see this transaction as a material step-forward in the ongoing maturing of the UK’s Build to Rent market.”

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit