Sigma Capital Group PLC – 1,000th home completed for The PRS REIT plc
Sigma, the PRS, residential development and urban regeneration specialist, is pleased to announce that its wholly-owned subsidiary, Sigma PRS Management Limited, has confirmed the delivery of the 1,000th new rental home for The PRS REIT plc in its capacity as Investment Adviser.
The milestone comes some 23 months after Sigma launched the PRS REIT, which has first right of refusal to development opportunities within the Company’s PRS property platform. Supported by key housebuilding partners, as well as Homes England, Sigma’s sophisticated PRS delivery and management platform has enabled the PRS REIT to rapidly become a leading UK provider of high quality, family homes for private rental. Sigma has now delivered over 2,500 PRS homes constructed through its platform since commencing this activity in November 2014. In excess of 3,200 homes are currently under construction.
Launched on 31 May 2017, the PRS REIT is a closed-ended real estate investment trust established to invest in new build, private rented sector homes. As Investment Adviser, Sigma PRS Management Limited sources investments and manages the assets of the PRS REIT, and advises it on a day-to-day basis in accordance with its investment policy.
Graham Barnet, CEO of Sigma, commented:
“I am delighted that the PRS REIT has reached this significant milestone, with Sigma and its partners helping to bring it about. Currently, there are another 3,200 or so homes under construction for the PRS REIT, with some 5,600 new homes being the total target as we continue to deliver the PRS REIT’s £900m of gross expected funding.”