- Former urban living lead from Greystar will join leadership team of specialist real estate investment manager as a shareholder and executive director
- Adina David will be responsible for leading MGT’s rental living strategy, growing the firm’s existing £1.4bn residential portfolio
- MGT, currently backed by Baupost and Oaktree, has secured initial equity for a new £1bn vehicle focused on funding rental housing
Adina David, former director of urban living at Greystar, has joined MGT Investment Management as the business looks to increase its exposure to the UK build-to-rent sector.
As a shareholder and member of MGT’s executive team, David will help drive the company’s growth and support its expansion.
Prior to her last role, David was vice president of investments at The Collective before re-joining Greystar. Following MGT’s success in amassing a £1.4bn residential portfolio, David will now be responsible for building out a rental living strategy, encompassing multi-family and single-family housing.
Drawing on her wide-ranging experience across the financing, design, development and crucially, the operation of different living real estate asset classes, MGT’s ambition is to offer capital partners and development partners best-in-class sectoral expertise.
Known for championing diversity and inclusion through her work as founder of Ladies in Real Estate, a networking group promoting mentorship and support for future industry stars, David has also played a prominent role with Urban Land Institute’s work to promote emerging living real estate sectors.
As a part of MGT’s leadership team, David will work alongside the firm’s three founders in shaping and evolving the company’s ESG policies. There will be a high focus on integrating technology to enhance health and wellbeing and to challenge conventional thinking around design while also prioritising social value measurement across new developments.
David’s appointment follows MGT securing initial equity from a mix of domestic and international investors for a new £1bn rental living investment vehicle, which will forward fund or purchase multi- and single-family housing assets around London and the South of England.
MGT, which has existing backing from the Baupost Group and Oaktree Capital, has a £1.4bn stabilised and development portfolio of over 2,000 homes, with projects underway in Reading as well as Battersea and Greenwich in south London.
The company recently completed a £100m debt funding deal with Deutsche Bank, which builds on previous agreements with AIG and Homes England.
Henry Morris, managing director at MGT, said: “Adina will play a central role in our ambitious plans to significantly grow our rental living portfolio through a new £1bn investment vehicle.
“Her experience within several vertically-integrated businesses will prove invaluable as we look to fund institutional-grade, best-in-class schemes. We believe that injecting best practice around design and operations will not only create better homes for our future residents, but also a significant uplift in performance for our capital partners.”
Adina David, executive director at MGT, said: “Spearheading MGT’s rental living strategy will allow me to deliver more housing options to a wide range of residents, as well as continuing to drive innovation in the living asset classes. I am excited to continue working in UK residential for rent, a sector that I’m extremely passionate about.
MGT has built up an impressive track record and being able to offer global expertise in this asset class will help us to move quickly and identify exciting new opportunities across a segment that remains critically under-served across the UK.”
Leave a comment