Picture Living now holds a portfolio of close to 2,000 homes nationwide, including those under development.

The latest deal, in partnership with Vistry, will see 41 new homes for private rent at their Rectory Farm development in Grantham.

The homes will be a mix of two- and three-bedroom homes, featuring off-street parking, EV chargers, and solar panels where possible.

Jamie Younger, chief investment officer and fund director at Thriving Investments, commented: “Access to private rental homes is instrumental in supporting a fully functioning housing market.

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“Securing our third deal of 2025 is a significant milestone and demonstrates the strength our Picture Living strategy.

“It also includes a third forward funding transaction with our development partner, Vistry, and enables us to continue to bring affordable private rental homes to people across the country.

“Our ambition for the rest of the year is to continue deploying capital into sites across the UK. Picture Living is backed by long-term, responsible, institutional capital.

“We use equity — not debt — to finance property purchases.

“We want to continue to support developers to meet their targets on time and on budget and address this housing shortage at the pace it demands.”