Grainger has posted a 3% increase in net asset value in its half-year results.
The company recorded a jump in NAV to 329p per share from 319p in September last year and a pretax profit of £36.6m, up from £21.1m.
It has secured £268m of investment into the private rented sector, almost a third of its £850m target.
The investment includes the change in development schemes to PRS and a £41m investment into tenanted units, as well as a £99m forward-funding agreement for Clippers Quay, a build-to-rent PRS development in Salford, Greater Manchester.
Rental income has increased by 13% to £18m and Grainger said it remains focused on securing PRS opportunities in the future.
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