Apollo Global Management announced that its funds have acquired Gatehouse Living Group, a UK-based residential investment and management platform, from Gatehouse Bank, according to an official company announcement. Financial terms of the transaction were not disclosed.
Gatehouse Living Group is a vertically integrated platform focused on the build-to-rent single-family housing sector in the UK. The business includes Gatehouse Investment Management, its investment arm, and Ascend Properties, its property management arm. Together, the platform provides institutional investors with services to originate and manage residential housing assets.
The company has acquired more than 5,000 homes from major UK housebuilders and manages over 10,000 homes nationwide, including nearly 4,000 under its Ascend Living brand.
Following the acquisition, Gatehouse Living Group will continue to be led by its existing management team, including CEO Paul Stockwell, and will be rebranded at a later date. The platform will continue investing both its own capital and that of third-party partners, while maintaining property management services for external institutional portfolios.
The transaction builds on Apollo’s broader investment activity in the UK housing sector, including its involvement with Foundation Home Loans and Miller Homes.
The sale aligns with Gatehouse Bank’s long-term strategy to focus on expanding its retail and home finance offerings.
KEY QUOTES:
“GLG has led the growth of institutional rental housing, creating a prominent platform that strategically supports the sector and accelerates the delivery of much-needed high-quality housing throughout the UK. This transaction with Apollo is a testament to the strength of our holistic investment and property management platform and will support our continued expansion in the market.”
Paul Stockwell, Chief Executive Officer of Gatehouse Living Group
“GLG, under Gatehouse Bank’s stewardship, has established itself as a vertically integrated leader in the UK housing sector, supporting the supply of high-quality, professionally managed rental homes. We look forward to working closely with management to further enhance and expand its operational capabilities and to supporting the platform’s continued success as the UK focuses on bolstering homebuilding across tenures and attracting more investment to the sector.”
Edward Jones, Partner at Apollo
“We are incredibly proud of the success achieved since GLG launched its first investment in 2014 and the critical role we have played, as an early entrant, in establishing the UK Build to Rent market. The sale is part of Gatehouse Bank’s long-term retail growth strategy and will allow for further development of its home finance product offering, which has seen strong demand supporting UK resident, UK expat and international homebuyers and landlords. We are confident that GLG is well positioned today to continuing building on its strong foundation, supporting the supply of new rental homes in the UK.”
Charles Haresnape, Chief Executive Officer of Gatehouse Bank
