UK housing association and residential developer London & Quadrant Housing Trust (L&Q) has sold its private rented sector (PRS) business to Morgan Stanley Investment Management and Ridgeback Group for £1.05 billion (€1.21 billion).
Morgan Stanley, investing via funds managed by Morgan Stanley Real Estate Investing (MSREI) alongside UK property investor Ridgeback to acquire Metra Living, has secured a portfolio of approximately 3,200 homes across Greater London as well as its fully integrated operating platform, team and £300 million in external debt facilities.
Source: realassets.ipe.com on the 17th of June