Fiera Real Estate and Packaged Living secure £70million Homes England investment, increasing FRESH investment capacity to £200 million

Fiera Real Estate UK Limited (“Fiera”), the European real estate arm of Fiera Capital Corporation (TSX: FSZ), and Packaged Living Limited (“Packaged Living”), a leading UK rental living platform, have reached £200 million of investment capacity for their new open-ended Single-Family-Housing vehicle, FRESH, after a £70million investment from Homes England’s National Housing Bank.

The investment from National Housing Bank – which is aiming to invest up to £16 billion in housing delivery and regeneration over the next decade – will support further deployment into the strategy’s existing pipeline. FRESH is targeting a £1 billion portfolio of high-quality, professionally managed family rental homes across supply-constrained UK locations.

FRESH, which was established in August 2026, will invest through forward-funding and forward-commitment agreements with developers and housebuilders, providing a scalable route to delivering new homes and supporting the long-term growth ambitions of both partners. FRESH will use the Sustainability Impact label under the UK Sustainable Disclosure Regulation, demonstrating the strategy’s commitment to facilitating the supply of private rental single-family homes in underserved locations.

FRESH builds on Fiera’s and Packaged Living’s established track record in UK Living sectors. As a pioneer of SFH in the UK, Packaged Living manages a diverse portfolio of garden-style, co-living and multi-family homes, currently developing and operating 4,000 homes. For Fiera, living is one of three core focus areas - alongside real estate debt and logistics - underpinned by a diversified pipeline of more than 12,500 homes (as at 30th June 2026). Reflecting their extensive experience across these key sectors, Fiera’s European real estate business operates with £2.6 billion of assets under management (as at 30th June 2026).

Charles Allen, Head of European Real Estate at Fiera Real Estate, commented:

“Securing this commitment is a strong validation of our investment thesis and joint track record with Packaged Living in delivering high-quality rental housing.  The strategy provides institutional investors with targeted exposure to an established asset class that can be scaled effectively, marking another major step in our growth journey.

“Living represents one of Fiera’s three conviction sectors alongside real estate debt and logistics, all of which are driven by strong structural tailwinds, long-term supply-demand imbalances, and defensive, inflation-resilient income streams.”

Ed Ellerington, CEO of Packaged Living, added:

“This is a further example of how effective collaboration between private and public capital can accelerate housing delivery across multiple tenures and at scale. Packaged Living has been a pioneering force in the institutionalisation of UK rental housing, of which single family housing  is now a mature asset class with demonstrable benefits across sustainability and socio-economic impact.

“We will leverage our full lifecycle expertise and proven track record to deliver high-quality, sustainable homes that offer the potential for downside protection, growth prospects and measurable benefits for our investors.”

Simon Century, Chief Executive Officer for the National Housing Bank, said:

“This investment demonstrates the role the National Housing Bank can play in attracting institutional capital into housing delivery. By partnering with Fiera and Packaged Living, we are supporting the creation of a pipeline of family rental homes at scale, helping to address undersupply in key markets and deliver lasting benefits for communities.”