PRS REIT has bought nine private rented sector sites in the UK, including two from Sigma Capital Group. The completed site in Salford comprises 73 newly-built properties. Meanwhile, the forward sold site near Wakefield, Yorkshire, features 72 homes with an approximate gross development cost of €10.2m (£9.2m).
The other seven sites acquired by PRS REIT are in the north-west of England and the West Midlands, made up of a combined 630 new homes once building is completed. They have a combined gross development cost of around €96.9m (£87.3m) with a rental income of €6 (£5.4m) per year.
Overall, the real estate investment trust said, the nine sites cover 775 new homes with a forecast annual rental income of €7.4m (£6.7m) per year and a gross development cost of €119.6m (£107.7m).
