Grainger has bought a portfolio of rental properties in the North of England from Aviva for £10.4m, a gross yield of 6.3%.
The portfolio, known as North Star, includes 131 homes spread across six sites in Newcastle and Leeds.
The sites comprise 112 flats and 19 houses, though Grainger has already sold the houses, located at Friars Way and Abbotsmeade Close in Newcastle.
Aviva sold the assets alongside its legacy of UK commercial mortgages.
The three Leeds sites include 17 flats at 1-18 Canal House, 27 apartments at 1-28 Horsforth House and nine apartments at 1-9 Montagu Drive.
The Newcastle assets include 21 apartments at 1-21 Jesmond Place and 38 flats at Redhouse Farm.
Allsops advised Aviva on the sale. All parties declined to comment.
