PRS REIT
From Wikipedia, the free encyclopedia
 | |
| Company type | Public |
|---|---|
| LSE: PRSR | |
| Founded | 2017 |
| Headquarters | , England |
Key people | Geeta Nanda (chair) |
| Website | www |
The PRS REIT (LSE: PRSR), is a large British investment trust, operating in the Private Rented Sector (PRS), which is focused on creating a portfolio of family homes for rent. It is the UK's largest portfolio of build to rent single family houses.[1]
The company was launched through an initial public offering with financial backing from the Homes and Communities Agency in 2017.[2] Stephen Smith was appointed chair at the time of the launch.[3]
In April 2023, the company confirmed that it had completed 5,000 houses, making it the holder of the UK's largest portfolio of build to rent single family houses.[1]
However, in August 2024, a group of shareholders holding 17.3% of the company, who were concerned about the large discount of share price to net asset value, sought an extraordinary meeting seeking to remove the chair and to instigate a strategic review.[4][5][6]
In September 2024, the company announced that Smith would step down and Geeta Nanda would become interim chair in December 2024. As a result of this, the dissenting shareholders withdrew their request for an extraordinary general meeting.[7][8][9]
The company sold its property portfolio to Northern LGPS and Local Pensions Partnership Investments for £1.1 billion in December 2025.[10] It subsequently announced that it would seek shareholder approval to proceed to liquidation.[11]