UK residential property owner Grainger has announced the acquisition of all the shares of The Tilt Estate Company, which owns over 300 residential units in London, for £48 mln (EUR 69 mln). The company was purchased from Wainford Holdings, and the transaction was funded from existing facilities.

UK residential property owner Grainger has announced the acquisition of all the shares of The Tilt Estate Company, which owns over 300 residential units in London, for £48 mln (EUR 69 mln). The company was purchased from Wainford Holdings, and the transaction was funded from existing facilities.

The total property portfolio is valued at £62.5 mln (EUR 90 mln) and is located in East Dulwich, a popular up-market area in the southeast of the capital, with most of the London, properties situated around a private garden square. Grainger believes the portfolio, which currently generates £2.2 mln (EUR 3.2 mln) in rent each year, offers a number of opportunities for the company's in-house property and asset management teams to add value.