The Thistle Portfolio - Sigma’s first PRS mandate for clients of Gatehouse Bank – has been sold to Goldman Sachs and Pitmore for c.£150m. This was built at a £110m cost only ~5 years ago. This marks one of the few major transactions of a portfolio of single-let family homes in the UK and underscores the value which Sigma’s model is able to create with the 4.15% exit net initial yield (“NIY”) a full 35bps better than current assumption. This has positive implications for returns in The PRS REIT, ....
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Strong validation in landmark portfolio transaction
- Published:
11 Jan 2021 -
Author:
Andrew Watson -
Pages:
4
The Thistle Portfolio - Sigma’s first PRS mandate for clients of Gatehouse Bank – has been sold to Goldman Sachs and Pitmore for c.£150m. This was built at a £110m cost only ~5 years ago. This marks one of the few major transactions of a portfolio of single-let family homes in the UK and underscores the value which Sigma’s model is able to create with the 4.15% exit net initial yield (“NIY”) a full 35bps better than current assumption. This has positive implications for returns in The PRS REIT, ....