Lengthy Harbour, an actual property administration agency, has made an method to amass PRS REIT, the suburban housing funding belief which put itself up on the market earlier this 12 months.
Sky Information has learnt that Lengthy Harbour has secured backing from a serious monetary investor to desk a suggestion for PRS REIT.
Metropolis sources stated it had submitted a proper proposal to its goal, though it was unclear on Wednesday at what worth its provide had been pitched.
PRS REIT is claimed to have drawn curiosity from numerous suitors since hoisting a ‘on the market’ sign up April.
It raised greater than £500m by a flotation in 2017, since when it has undertaken two additional equity-raises.
Houses England, the federal government company, is amongst PRS REIT’s backers.
An additional replace on PRS REIT’s sale course of is scheduled to be launched later this month.
Shares within the funding belief have been buying and selling on Wednesday at round 117.4p, giving it a market capitalisation of about £640m.
Spokespeople for Lengthy Harbour and PRS REIT declined to remark.
