Blackstone Inc. and Regis Group Plc have finalized a deal to purchase a portfolio of 1,750 homes from UK homebuilder Vistry Group Plc for c. €678.6m. The homes are mainly located in the southeast of England and spread across 36 developments. They will be managed by Leaf Living, a private rented sector housing provider backed by funds managed by Blackstone and Regis.
Greg Fitzgerald, Vistry’s chief executive, stated, “By working in partnership with organisations like Leaf Living we can maximise the number of high-quality homes we deliver every year. This agreement supports our differentiated business model, with the certainty provided by the pre-selling of homes enabling us to accelerate our build programmes, guarantee work for our supply chain, reduce sales and build costs, and create vibrant new communities.”
Image source - Pexels.
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