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Brookfield buys UK affordable housing provider and partners with Sigma
Brookfield acquired WH Housing, renamed it Ursa Affordable Housing, and plans to build and manage affordable homes with Sigma Capital.
Brookfield has bought a for-profit registered affordable housing provider and agreed to work with Sigma Capital to build and manage affordable homes in the UK, Inside Housing Living reported, citing the deal details.
The Canadian investment giant purchased WH Housing from Dorset-based housebuilder Wyatt Homes in September, then renamed the business Ursa Affordable Housing, the outlet said. Brookfield's planned investment size was not disclosed, though the report noted the firm typically invests several hundred million pounds or more in the platforms it creates.
Broader board and leadership changes were also part of the transaction. Bisnow reported that Brookfield UK Managing Director Dominic Williamson is listed among Ursa's directors, and former housing executives Gordon More, Alex Notay, and Karen McElhatton joined as nonexecutive board members.
Bisnow said Brookfield has been a major investor in rented residential real estate in Europe over the past decade, including building student housing provider Students Roost before selling it for £3B to GIC and Greystar in 2022, and buying a portfolio of 1,300 houses of multiple occupation across the UK last year.