KCR is building a portfolio of UK rented residential property that is diversified by location, building and tenant targeting areas where both capital and rental growth are expected to be strong in the coming years. The focus of acquisitions is SPVs holding real estate assets, although KCR may also make direct real estate acquisitions. To gain access to a wider pool of opportunities over time, KCR may invest in properties in development once they are completed to the required specification. It may also invest in the forward funding of developments but it will not take on ground up development planning or construction risk.