The PRS REIT is a close-ended investment trust that invests in new build homes in the private rented sector (PRS) and as at 30th September had a portfolio of 5,425 properties with a rental value of £67.5m per year.

The trust has been performing well with occupancy and rent collection rates of 98% and 100%, respectively.

•   The Finance Professional Show 2023: The Video
•   PRS REIT joins FTSE 250
•   London Credit pilots development finance offering

With the largest build to rent (BTR) portfolio outside London, in September the PRS REIT was added to the FTSE 250 index with chair Steve Smith calling this at the time a “significant landmark.”

Now, a formal strategic review has been launched to explore options for the trust. In an update to the market, PRS REIT management stressed they are not currently in talks with any interested parties and that a sale is not a predetermined outcome.

As part of this, a “formal sale process” has begun with interest parties invited to initiate contact with the PRS REIT team.

The trust’s market update added: “The company will update the market in due course regarding timings for the formal sale process.”