PRS REIT is progressing with takeover talks, highlighting a recent proposal from Long Harbour.
A bid was confirmed in June with Long Harbour putting forward a price of 115p per PRS REIT share in cash.
In an RNS the board of PRS REIT confirmed talks were ongoing but stressed that it could still pursue other options.
The REIT is progressing with the formal sale process based on ‘feedback’ received from shareholders.
At the same time the board of PRS REIT provided an update for its fourth quarter, dated from 1st April to 30th June.
Here, it was revealed that PRS REIT had completed 5,478 rental homes with an estimated rental value of £72m per annum.
Rent collection during this period was 99% with occupancy at 96%.
Like-for-like rental growth of 9.6% was achieved, but this was down from 10% in the preceding quarter and 11.7% in 2024.
