The trust was launched at IPO in 2017 by Sigma Capital Group, with Sigma PRS Management as its investment adviser.

Its current portfolio is expected to be completed in the first quarter of the 2025 calendar year and will total around 5,600 homes. These are expected to generate a rental value of £66.5m once fully let.

Since 2017, the REIT has completed over 5,400 homes and - according to the trust’s management board - has the largest BTR portfolio of single-family homes outside of London.

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“The PRS REIT’s entry into the FTSE 250 index is a significant landmark and could not have been achieved without the backing of our stakeholders, including investors, banking and housebuilder partners, supporters in government and Sigma Capital Group,” said Steve Smith, chairman at the PRS REIT.

“The UK’s lack of quality rental housing remains an acute problem, and we are proud to have successfully pioneered a new approach for delivering modern family housing at scale and to have created the largest single family BTR portfolio in the UK.”