16th May 2018 12:17
LONDON (Alliance News) - UK social housing investor Residential Secure Income PLC said Wednesday that it will acquire a portfolio of licensed rental properties located in southern England for GBP31.2 million from residential property management group First Port.
The company has acquired a portfolio of 277 properties, comprised largely of modern two bedroom flats. The deal is expected to close by May-end.
Residential Secure Income will fund the acquisition with cash. Following deal completion, the properties will be leveraged against new debt securities.
Shares in the company rose 0.4% on Tuesday to 90.80 pence.
Related Shares:
Residential Sec