PRS REIT
Money raised via placings £500m | Proposed first annual div 5p
When the PRS Real Estate Investment Trust was listed less than a year ago, it arrived at a big time in the market for rented homes. There was, for example, soaring demand for newly built rented housing, driven by families, young professionals and older people looking to downsize. Smart new housing schemes were, and are, being developed and operated by big operators. And money was, and is, pouring into the sector. Research from Knight Frank suggests that institutional investors will be spending £70 billion in the build-to-rent sector by 2022, up from £25 billion in 2016.
Into all this stepped PRS, the first vehicle of its type to reach the public markets