Grainger has bought Kings Dock Mill in Liverpool for £14.5m.
The development comprises 120 furnished apartments and town houses, as well as ancillary commercial space and car parking. It generates rent of £1m pa.
Grainger announced in January that under the leadership of new chief executive Helen Gordon the company would look to build its PRS portfolio to £850m in the next four years.
It has also recently purchased 98 units in south-west London through its PRS Fund, GRIP, and has bought Clippers Quay, a 600-unit build-to-rent development scheme in Salford.
Gordon said: “This acquisition reinforces our confidence in the regional markets. We look forward to expanding our portfolio and offering good homes to renters.’’
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