Pan-European real estate fund manager PineBridge Benson Elliot has secured £300 million of new debt facilities to finance the acquisition of 34 sites, or around 2,600 units, as part of its UK single family rental aggregation strategy.

The strategy is targeting in excess of 5,000 units, through Sigma Capital Group, a provider of build-to-rent housing with almost 10,000 units under management and the founder of the first UK-listed REIT focussed on single family rental housing which was acquired by PineBridge Benson Elliot in August 2021.

The Sigma strategy aims to acquire large-scale, high-quality, newly built housing, providing affordable rental housing to families, in locations close to primary schools, employment hubs and transport links. Sigma has likewise committed to aligning its strategy to sector leading ESG standards. Many of Sigma’s newly built houses are part of larger regenerations programmes, achieving EPC ratings of B or higher.

We have witnessed a significant interest from lenders, even amidst the challenges of the current rates landscape.

Joseph De Leo, Managing Partner at PineBridge Benson Elliot, says, “We have witnessed a significant interest from lenders, even amidst the challenges of the current rates landscape. This stands as a testament, we firmly believe, to the resilience and robustness of our UK strategy, anchored by its predicable cash flow stream, and successful track record.”

Luca Scollo, Senior Vice President at PineBridge Benson Elliot, adds, “With the recent acquisition of 2,600 units, Sigma has not only secured its place at the forefront but also fortified its ability to respond to the structural supply constraints of quality single-family homes. The foundation is laid, and now we embark on a journey of scale and excellence.”

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About PineBridge Benson Elliot

PineBridge Benson Elliot is a pan-European real estate private equity specialist