Lloyds and Widows provide Edinburgh PRS REIT with additional £200m of debt facilities
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Graham Barnet
Edinburgh-headquartered residential development and urban regeneration specialist Sigma Capital Group has announced that its wholly-owned subsidiary, Sigma PRS Management Limited, has secured a further £200m of debt facilities from Scottish Widows and Lloyds Bank.
The facilities were negotiated by the company’s investment adviser, Sigma PRS Management Limited, and bring the total gross balance of deployable funds available to the firm to £900m.
The news comes a week after Sigma announced that it had taken delivery of its 1,000th home.
The firm, which also has offices in Manchester and London, claimed the fund would be the “first dedicated vehicle to focus on the creation of new rental homes for families in the private rented sector in Scotland”.
Appraisals of a number of sites are currently underway, it added.
Chief executive Graham Barnet said: “Our approach to housing deliver y has been working extremely well in England, delivering thousands of new houses for the private rental market. We see significant demand for our high-quality, professionallymanaged homes in Scotland.”
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