The PRS REIT (“PRSR”) has secured £50m additional development debt from Barclays. Although this does not change the overall size of the fund or scope for returns, it does allow for greater development activity – accelerating completions. We withdrew our forecasts earlier this year in the wake of the COVID crisis, and will review our position at the Final Results (7/10) next week. We highlight that PRSR aims to be stabilised by FY23e at which point rental income is likely to drive both NAV growth ....
29 Sep 2020
Additional development debt secured
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Additional development debt secured
PRS REIT Plc (PRSR:LON) | 77.1 -0.1 (-0.1%) | Mkt Cap: 423.5m
- Published:
29 Sep 2020 -
Author:
Andrew Watson -
Pages:
3
The PRS REIT (“PRSR”) has secured £50m additional development debt from Barclays. Although this does not change the overall size of the fund or scope for returns, it does allow for greater development activity – accelerating completions. We withdrew our forecasts earlier this year in the wake of the COVID crisis, and will review our position at the Final Results (7/10) next week. We highlight that PRSR aims to be stabilised by FY23e at which point rental income is likely to drive both NAV growth ....