DWS has bought three PRS blocks in Royal Albert Wharf, E16, from Notting Hill Genesis.
The fully let, Thames-side properties, bought for one of its institutional real estate funds, were built in 2020 and comprise 182 homes. The properties are primarily aimed at young professionals and families and are well connected to Canary Wharf and the City of London.
The seller is Folio London, the private rented sector arm of Notting Hill Genesis. Savills Operational Capital Markets advised the vendor on the transaction.
Mike Hill, head of real estate transactions for UK and Ireland at DWS, said: “This acquisition is a testament to our strategy to focus on high-quality real estate investments offering stable cash flows and a sustainable occupancy level for our investors. We remain interested in promising acquisitions in the residential, logistics and office sectors.”
The sale is one of the largest PRS transactions since the Covid-19 pandemic began.
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