The PRS REIT plc (affiliated with Sigma Capital Group plc), the first quoted Real Estate Investment Trust (“REIT”) to focus purely on the private rented sector (“PRS”), has today announced that it has successfully raised £250 million.
Following its IPO in May 2017, which raised £250 million from blue chip institutional investors and the UK Government’s Homes England, performance has been ahead of expectations. Today’s fundraise will be used to continue the company’s investment in new sites.
Graham Barnet, CEO of Sigma Capital Group plc commented: “Having committed all of the capital raised in our May 2017 IPO ahead of schedule, we again looked to our corporate brokers N+1 Singer to assist with a follow on raise under the placing programme. The team worked with us to refine the investment proposition and designed a targeted and efficient marketing process to deliver another vitally important fundraising for the PRS REIT. The transaction was exceptionally well executed and generated substantial early demand which enabled us to bring forward the planned closing date of the placing by almost two weeks – an excellent outcome for all stakeholders.”
Working with N+1 Singer, the PRS REIT has now raised a total of £500 million.
At N+1 Singer, we help businesses by finding them the funds they need to grow. We have helped raise over £3 billion over the past five years and are now recognised by the London Stock Exchange rankings as one of the top three advisers and brokers on the junior market.
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