The management of the PRS REIT have confirmed they are in takeover talks, after a formal sale process was announced earlier this year.
In an RNS, the board updated shareholders that it was in “active discussions with a number of interested parties”.
As part of this, a dataroom - a digital repository for sensitive documents relating to a potential merger or acquisition - had been made available.
The board has stated it will aim for an update about the sale process in the first quarter of 2025.
In October, PRS REIT began a strategic review as a means to a potential sale.
Management of the REIT - which as of 30th September had a portfolio of 5,425 properties with a rental value of £67.5m a year - declared it was exploring options to “maximise value”.
The month prior to that, the REIT was added to the FTSE 250 index in what was described as a “significant landmark” by its chair.
