Torchlight has taken a controlling stake in KCR Residential after nearly doubling its holdings.
The fund exercised its option to buy 13.5m shares in the REIT, handing KCR £2.7m in cash. The deal will bring Torchlight’s interest in the company to 55.4%.
The AIM-listed KCR currently only owns a handful of flats and retirement homes in the UK, but has plans to expand to Germany and Australasia.
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