Long Harbour Submits Takeover Bid for PRS REIT Amid Strong Market Interest

Long Harbour, a leading UK real estate investment and asset management firm, has submitted a formal offer to acquire PRS REIT, the suburban housing investment trust that initiated a strategic sale process earlier this year. According to market sources, the bid is backed by a major financial investor, although the terms of the offer, including the proposed valuation, remain undisclosed.

PRS REIT has attracted significant interest since announcing in April its intention to explore a sale. The trust specialises in professionally managed, purpose-built suburban rental housing across the UK, with over £1 billion invested in its portfolio. Its focus on family housing outside of major city centres has made it an appealing target in the growing build-to-rent sector.

Since its launch in 2017, PRS REIT has raised more than £500 million through its initial public offering and subsequent equity raises. As of Wednesday, its shares were trading at approximately 117.4 pence, giving the company a market capitalisation of around £640 million. The trust’s consistent growth and sector positioning have made it one of the more attractive opportunities in the listed residential market.

Notably, PRS REIT counts Homes England, the government’s housing agency, among its key backers. This public sector involvement adds an important dimension to the transaction, with potential implications for housing policy and delivery should ownership transfer to a private investor.

Neither Long Harbour nor PRS REIT has commented on the bid. However, with multiple parties reportedly expressing interest, Long Harbour’s proposal may mark the beginning of a competitive process.

An update on the sale process is expected later this month. Market participants will be watching closely, as the outcome of the potential acquisition could have a material impact on the future of suburban private rental housing in the UK.