PineBridge Benson Elliot secures financing for UK SFR growth

PineBridge Benson Elliot secures £300m financing to support the growth of its UK single family rental (SFR) strategy.

Sigma Capital's Charlton Gardens scheme - PineBridge Benson Elliot | BTR News
Sigma Capital's Charlton Gardens scheme.

UK-based pan-European real estate fund manager – PineBridge Benson Elliot – secures £300m of new debt facilities. This is financing the acquisition of 34 sites totalling c. 2,600 units, as part of the company’s UK SFR aggregation strategy run which is targeting over 5,000 units through Sigma Capital Group.

“With the recent acquisition of 2,600 units, Sigma has not only secured its place at the forefront but also fortified its ability to respond to the structural supply constraints of quality single-family homes. The foundation is laid, and now we embark on a journey of scale and excellence.”

Luca Scollo, Senior Vice President, PineBridge Benson Elliot

Sigma has almost 10,000 units under management and is the Founder of the first UK listed REIT focussed on SFR Build to Rent housing, which benefits from Sigma’s vertically integrated operational and delivery platform that was acquired by PineBridge Benson Elliot in August 2021.

Sigma’s strategy aims to acquire large-scale, high-quality, newly built housing that provides affordable rental housing to families in locations close to primary schools, employment hubs and transport links.

The company’s strategy also aligns with sector leading ESG standards, with many of its newly built houses forming a part of larger regeneration programmes, achieving EPC ratings of B or higher.

“We have witnessed a significant interest from lenders, even amidst the challenges of the current rates landscape. This stands as a testament, we firmly believe, to the resilience and robustness of our UK strategy, anchored by its predicable cash flow stream, and successful track record.”

Joseph De Leo, Managing Partner, PineBridge Benson Elliot