Debt Facilities

RNS Number : 4678Z

PRS REIT PLC (The)

20 May 2019

 

20 May 2019

PRSR.L

The PRS REIT plc

(the "Company" or "PRS REIT")

Debt Facilities

The PRS REIT, the closed-ended real estate investment trust established to invest in new-build homes for the Private Rented Sector ("PRS"), is pleased to announce that a further £200m of debt facilities has been approved with Scottish Widows and Lloyds Bank. 

The facilities were negotiated by the Company's Investment Adviser, Sigma PRS Management Limited, and bring the total gross balance of deployable funds available to the Company to £900m. These funds are already fully committed to development sites that, once finished, are expected to create a portfolio of c.5,600 high quality new rental homes. Last week, the Company was pleased to announce that it had taken delivery of its 1,000^th home.

For further information, please contact:

The PRS REIT plc Steve Smith, Non-executive Chairman	Tel: [phone] (c/o KTZ Communications)
Sigma PRS Management Limited Graham Barnet, Graeme Hogg	Tel: [phone]
N+1 Singer  James Maxwell, James Moat, Ben Farrow	Tel: [phone]
Stifel Mark Young, Neil Winward, Gaudi Le Roux	Tel: [phone]
G10 Capital Limited (AIFM) Gerhard Grueter	Tel: [phone]
KTZ Communications Katie Tzouliadis, Dan Mahoney	Tel: [phone]

NOTES TO EDITORS

About The PRS REIT plc
(www.theprsreit.com)

The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth.  It has raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.  

LEI: 21380037Q91HU97WZX58

About Sigma Capital Group plc
(www.sigmacapital.co.uk)

Sigma Capital Group plc is a private rented sector, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors.  Its subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc.

About Sigma PRS Management Limited

Sigma PRS Management Limited is an appointed representative of G10 Capital Limited which is authorised and regulated by the Financial Conduct Authority (FRN:648953) and is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy.

 

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