The government’s Homes and Communities Agency is taking a 10% stake in PRS Reit, which is planning to raise £250m on the London Stock Exchange
The real estate investment trust also plans to borrow £200m to be used for the construction of 3,300 homes for private renters.
Sigma Management chief executive Graham Barnet said he expects private investors to follow the government’s lead and invest in the trust, which will be a top 10 builder. Sigma will be the trust’s investment manager.
