The funding has been provided to help reach a 2,000-home milestone.

This JV has also exchanged contracts on the acquisition of a further 788 SFH units across 10 separate transactions, financed through a £500m five-year debt facility from Goldman Sachs.

These 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 this JV was formed in October 2024, approximately £700m has been committed to the platform with CPP Investments investing £500m of equity and Kennedy Wilson acting as operating partner.

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The JV has now grown to 2,000 units across 23 sites with over 300 homes delivered to date and a further 800 expected to be completed this year.

“These acquisitions deliver further growth for the JV in strategic locations in the UK where demand for rental housing is acute”, said Mike Pegler, president at 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.”

Tom Jackson, managing director and head of real estate (Europe) at CPP Investments, added: “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.”