Housebuilder announces funding boost, taking reserves to £900m

New homes
PRS REIT, the Manchester-based real estate investment trust established to invest in new-build homes for the Private Rented Sector, has had a further £200m of debt facilities approved with Scottish Widows and Lloyds Bank. The facilities were negotiated by the company's investment adviser, Sigma PRS Management, and bring the total gross balance of deployable funds available to the company to £900m. These funds are already fully committed to development sites that, once finished, are expected to create a portfolio of around 5,60... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...