PGIM Real Estate acquires large U.K. single-family housing portfolio

PGIM Real Estate has acquired a large portfolio of U.K. single-family homes located in Manchester and Liverpool.

The acquisition has been made via PGIM Real Estate’s U.K. affordable housing strategy. PGIM Real Estate is the $204.4 billion real estate investment business of PGIM.

Acquired from Goldman Sachs Asset Management, the portfolio comprises 918 single-family rental homes located across 15 projects. The portfolio aligns with the aims of PGIM Real Estate’s U.K. Affordable Housing strategy as it delivers private rental housing at affordable rents for working families and co-renters. The investment allows the strategy to continue its focus on ESG provision, with the aim to improve the energy efficiency of the homes.

Since its launch in December 2020 and with this acquisition, the strategy has committed nearly £300 million (€338 million/$357 million) across 27 different housing projects, providing more than 1,500 homes. This makes PGIM Real Estate one o