M&G Real Estate is to take a further 114 homes from Crest Nicolson for its PRS portfolio.
It will forward fund the homes in Arborfield Green in Berkshire in its third tie-up with the housebuilder in an arrangement that has seen £100m of deals since 2015.
The flats will complete at the end of 2019 and sit in M&G’s UK Residential Property Fund. They have been designed for the rental market and the pair plan to build 200 build-to-rent homes at the site in total.
Alex Greaves, head of residential investment at M&G said: “The Thames Valley region continues to attract significant investment including provision of offices for major global corporations. This is a high value area of the South East where young people, couples and families struggle to get on the housing ladder – there is a clear and ongoing need for good quality homes for those looking for flexibility and affordability outside of London.”
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