PGIM Real Estate, on behalf of our European value-add strategy, has agreed to enter into a joint venture with Osborne Developments for a multimillion-pound investment strategy targeting Build to Rent (BTR) multifamily opportunities in the South, Southeast and Southwest of England. PGIM Real Estate is the real estate investment and financing business of PGIM, the US$1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU)
The venture will provide circa £250m of capital towards the strategy of acquiring land, delivery and stabilisation of new BTR urban developments. The significant investment in the joint venture recognises the cost and programme efficiencies of integrated partnerships. The venture itself supports PGIM Real Estate’s significant investment management capabilities alongside Osborne’s strong developer/contractor platform in order that the venture can grow its activities in the Build to Rent sector.
Read the full press release at the link below