Andrew Screen has joined US multifamily giant Cortland Partners as it begins its £4bn push into build-to-rent (BTR) in the UK.
Screen, formerly the managing director of investment firm TradeRisks, has been appointed chief investment officer of the company’s new UK arm. Screen specialises in bringing forward projects in the private rented sector and BTR markets. Before he was at TradeRisks, he was senior director of residential capital markets at CBRE.
He has 25 years of experience in real estate finance and previously worked at GVA as managing director and head of GVA Financial Consulting.
At TradeRisks, Screen worked with developers, local authorities and housing associations to finance residential developments and joint ventures with investment funds, including TradeRisks’ Residential Secure Income (ReSI) fund, which launched last year.
Cortland, which invests in, develops and manages BTR schemes, entered the UK market in January when it acquired developer Orion Land & Leisure.
10,000-unit portfolio in five years
It is looking to amass a 10,000-unit portfolio in the UK over the next five years and is bringing forward its first scheme, Cortland Cassiobury in Watford. The development has planning permission for 485 units.
Cortland’s London office is headed up by executive chairman Richard Olsen, who was formerly the chairman of Orion, while the founder and chief executive of the Atlanta-based company is Steven DeFrancis.
Cortland currently owns and manages 49,000 rented apartments across 138 schemes in the US.
It manages its own design, construction management and supply chain in-house through subsidiary companies Cortland Design, Cortland Build and CASK Industries, and also has a global materials sourcing office in Shanghai.
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