Sigma Capital locks in £200m-worth of debt facilities for PRS REIT
Residential development and urban regeneration specialist Sigma Capital's wholly-owned subsidiary Sigma PRS Management has secured an additional £200m worth of debt facilities on behalf of The PRS Real Estate Investment Trust.
Sigma PRS Management, in its role as investment adviser to The PRSE REIT, locked in the further debt facilities with Scottish Widows and Lloyds Bank on Monday, taking the total gross balance of deployable funds available to the company to £900m.
The AIM-listed firm said PRS REIT's newly acquired funds were already fully committed to development sites that, once finished, were expected to create a portfolio of roughly 5,600 high quality new rental homes.
As of 1055 BST, Sigma shares had dipped 1.44% to 114.82p.