Prupim back in private rented with £105m Berkeley buy

摘要

Prupim, the real estate investment arm of M&C Investments, made its second foray into the private-rented sector this week, buying a 534-strong residential portfolio from Berkeley Group for £105.4m.After the purchase completes in June, Berkeley will retain a £10m stake in the portfolio, which comprises homes at 13 of the housebuilder's sites, while Savills takes over day-to-day management.The portfolio includes 61 units at Caspian Wharf in Poplar, east London; 50 units at Parkwest in West Drayton, near Heathrow; and 50 units at its Pier Road scheme in Gillingham, Kent.It also includes assets in south-east London, north London, Croydon, Hampshire and Gloucestershire.