Goldman Sachs sold a portfolio of affordable homes in the U.K. to PGIM Real Estate.
The portfolio of 918 single-family homes is located in and around Manchester and Liverpool.
According to Bloomberg, this is a rare institutional deal in a market dominated by mom-and-pop investors.
- In October, React News reported Goldman Sachs sought £190M (~$226M) for the portfolio it acquired for £150M (~$180M) in 2020.
- The acquisition is part of PGIM's strategy to focus on private rental housing at affordable rents for working families.
- The asset management arm of Prudential Financial has committed around £300M (~$361M) for this strategy.
