PGIM Real Estate has made the first acquisition for its recently launched U.K. Affordable Housing Fund.
“We are delighted to make our first investment for the strategy, and to work with the experienced team at Wise Living. At PGIM Real Estate, we have a strong track record in affordable housing, making our first investment in the United Kingdom back in 2016,” said Charles Crowe, head of U.K. transactions. “Our recently launched strategy aims to alleviate the major supply/demand imbalance within U.K. affordable housing, benefitting working people and families, as well as income-focused investors. Despite recent economic uncertainty as a result of COVID-19, suburban areas and smaller towns with a greater emphasis on housing over apartments are reporting much stronger rental growth than city center markets.”
The asset is a portfolio of eight single-family for-rent residential housing sites acquired from build-to-rent provider, Wise Living. PGIM Real Estate acquire
