Atlanta-based apartment giant Cortland has made another big push into the United Kingdom multifamily sector.
Cortland acquired Leeds-based LIV Group for an undisclosed sum. The move essentially launches Cortland’s UK property management portfolio, with 2,000 current rental housing units and another 7,000 in the pipeline.
While Cortland manages at least 55,000 units in the United States, it had none under management in the United Kingdom until it bought LIV Group. The deal continues Cortland’s $5 billion expansion into the market, with a goal of establishing a 10,000-unit portfolio by 2022.
“In LIV Group, we acquired a business that is already up and operating in the build-to-rent space,” Cortland CEO Steven DeFrancis told Atlanta Business Chronicle. “For us, the value is we clearly do not have to start from scratch.”