Realstar – which operates using the UNCLE brand – has been acquired by Canada-based QuadReal Property Group.
As part of the deal, QuadReal acquired 6,000 residential units across London, Manchester, Birmingham, Leeds, and Dublin.
Realstar works across sectors from GP surgeries to hotels, build-to-rent, student accommodation and co-living.
As part of the deal Ryan Prince will remain as CEO of Real Star for the next 12 months.
Jonathan Dubois-Phillips, president, international real estate at QuadReal, said: “This furthers QuadReal’s global residential strategy and positions us well for future growth in both the built-to-rent and student housing markets.
“We have a solid residential foundation in the UK because of our partnership with Realstar, and QuadReal will continue to deliver value through operational excellence and solid portfolio and asset management.”
Globally, QuadReal has 65,000 residential units and 28,000 student beds, predominantly in North America and Australia.
In the UK, QuadReal has over 8,500 residential units and 4,500 student beds across 29 communities.
QuadReal and Realstar launched their first joint venture in 2017, expanded the relationship through asset acquisitions and, in 2021, QuadReal purchased a minority interest in the Realstar UK operating company.
Ryan Prince, vice chairman of Realstar and founder of UNCLE, said: “I am incredibly proud of the businesses we have built, the brands we founded, and the people I have worked alongside since launching Realstar’s UK operations nearly 25 years ago.
“Since the establishment of our UK business, we have worked across sectors from GP surgeries to hotels, BTR, student accommodation and co- living. QuadReal’s investment, particularly over the past five years has turbo-charged our growth, and the business is now in its strongest position yet.
“I look forward working alongside QuadReal on the UK BTR and student fronts while at the same time seeking out new opportunities for Realstar to grow in the UK and Europe.”
