Europa Capital and Addington Capital have acquired a portfolio of residential properties in the UK out of administration. The pair paid £39 mln (EUR 49 mln) for the 366 homes.
Europa Capital and Addington Capital have acquired a portfolio of residential properties in the UK out of administration. The pair paid £39 mln (EUR 49 mln) for the 366 homes.
The assets were sold by UK listed property company Grainger acting on behalf of administrators Ernst and Young.
The transaction marked the largest portfolio sale by Grainger through the Residential Asset Management Platform (RAMP), developed by Lloyds Banking Group. Grainger has managed this portfolio and others, totalling 3,000 properties, since 2011.
This was the second sale of an investment portfolio from RAMP. Other sales involved individual properties through private sales to owner-occupiers and small scale buy-to-let investors. Total sales through RAMP now stand at £145 mln for 1,477 units.
RAMP provides combined asset management and property management on residential portfolios for third parties, including Ernst and Young, Deloitte, KPMG, BDO and BNP Paribas.
