Residential investor Annington has bought two PRS portfolios for more than £47m.
The portfolios comprise 177 homes across the south and south-west of England.
The first, the Oak Portfolio, was bought from Mill Group for £23.8m and comprises 104 homes.
The second was acquired from Taylor Wimpey for £23.5m.
Annington already owns more than 40,000 homes with a value of £7.4bn and it has more than 20 years’ experience as a private landlord.
The group said that following a £4bn refinancing last year, it believes it is well placed to expand in the PRS market.
Chief executive James Hopkins said: “These two purchases support Annington’s strategy to build greater scale in private rented housing.
“Our £4bn refinancing last year ensures we have the balance sheet to deliver further growth and these acquisitions build on our purchase of more than 200 homes in March.
“As one of the few existing landlords with both significant scale and a track record in this space, and with a deep understanding of both local and national markets, we feel we are well placed to make a difference in addressing the UK’s housing challenges.
“We will continue to actively pursue further opportunities.”
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