PRS REIT raises £200m debt finance – Sigma, the private rental sector, residential development and urban regeneration focused company, has announced that its wholly-owned subsidiary, Sigma PRS Management Limited, has secured a further £200m of debt facilities on behalf of PRS REIT (PRS) in its role as manager to the investment trust. We note that this takes the balance of the PRS’ deployable funds to £900m (gross).
About PRS
PRS is a closed-ended real estate investment trust established to invest in the private rented sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. It has raised a total of £500m (gross) through its IPO, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government’s Homes England with direct investments.