The developer and regeneration specialist will build two blocks of flats in Cardiff’s Dumballs Road regeneration zone with a total of 432 one and two-bedroom apartments for the private rental market.
The development site is a joint venture between Ridgeback Group and Angelo Gordon.
Ridgeback Group is a UK real estate firm owned by Duncan Walker and George Bossom with a portfolio of 2,100 homes for rent, including those that it has in planning and under construction. Angelo Gordon is a US firm that owns and operates more than 50,000 build-to-rent units in the USA and 5,000 in Europe.
United Living is accelerating its own growth into the build-to-rent sector with more than £300m-worth of schemes in its pipeline, due to start construction in 2022.