2,000 homes milestone for Kennedy Wilson and CPP

The joint venture has now committed approximately £700 million since its launch in October 2024 and grown to 2,000 units across 23 UK sites. More than 300 homes have already been delivered, with around 800 further completions expected this year. The platform is targeting 4,500 homes at full capital deployment.

Kennedy Wilson and Canada Pension Plan Investment (CPP) have expanded their UK single-family rental platform with a further £300 million investment. The joint venture now controls around 2,000 homes across 23 sites and is targeting 4,500 units at full deployment.

The JV has exchanged contracts on the acquisition of 788 additional single-family rental units across 10 separate transactions. These acquisitions are being financed through a £500 million five-year debt facility from Goldman Sachs, originally announced in December 2025. Goldman Sachs will also provide a subscription facility to the JV.

The 788 units are located across 10 development sites in Northampton, Nottingham, Hemel Hempstead, Watford, Wokingham, Bristol, Cheltenham and Didcot, in line with the JV’s strategy of targeting key growth areas. The homes have been acquired from existing partners including Barratt Redrow, Miller Homes and Wavensmere, alongside new partners Persimmon Homes, Taylor Wimpey and Kier Property/Vistry.

Since the JV was launched in October 2024, approximately £700 million has been committed to the platform, with CPP Investments providing £500 million in equity capital and Kennedy Wilson acting as operating partner. The JV has now grown to 2,000 units across 23 sites. More than 300 homes have been delivered to date and are either occupied or available for rent, with a further circa 800 units expected to complete this year.

Kennedy Wilson continues to pursue an active pipeline of opportunities comprising more than 1,000 homes on behalf of the JV, in which it holds a 10% interest, and is targeting 4,500 units at full capital deployment.

“These acquisitions deliver further growth for the JV in strategic locations in the UK where demand for rental housing is acute”, says Mike Pegler, President of Kennedy Wilson Europe. “We have established strong relationships with leading housebuilders and are already under offer on further units as we continue to scale the platform to our target of 4,500 homes.”

“Reaching 2,000 homes is a key milestone for our JV with Kennedy Wilson and our continued investment into this venture aligns with our real estate strategy to undertake scalable investments into high-quality assets and deliver attractive risk-adjusted returns for the CPP Fund”, says Tom Jackson, Managing Director and Head of Real Estate Europe at CPP Investments.

The JV focuses on energy-efficient new-build housing in strong and growing local economies, offering residents connectivity, local amenities and proximity to employment opportunities and educational institutions.