Post by Pension Insurance Corporation plc

PIC has completed the acquisition of Ebb & Flow, a fully operational, 598 unit Build-to-Rent (BTR) development in Reading. The landmark transaction, which is in excess of £200m, is one of the largest acquisitions of an operational BTR asset outside central London and the biggest investment transaction for PIC in the Living Sector. James Agar, Head of Real Estate Origination at PIC, said: “The acquisition of Ebb & Flow aligns with PIC’s BTR investment strategy, which sets out a targeted approach to acquiring well-located, high quality developments in strong locations such as Reading. The significant demand for professionally managed rental housing across the UK supports sustainable, inflation-linked cashflows which match PIC’s pension liabilities over coming decades. “In line with this purpose, Ebb & Flow supports PIC’s long-standing strategy of investing in the UK’s structurally undersupplied Living Sector to deliver tangible social value. Fully let, best-in-class operational assets represent strong relative value at this point in the market cycle, delivering attractive risk adjusted returns, as we navigate higher interest rates and the persistently tight credit spread environment.” Read the full press release here: https://lnkd.in/ewBG6NUF #purpose #investments #pensions #policyholders #future