PGIM Real Estate has acquired a portfolio of eight single-family for-rent residential housing sites from build-to-rent provider Wise Living for its affordable housing fund.
Around $30bn (£22.7bn) in transactions were completed worldwide by PGIM Real Estate last year despite market concerns related to the coronavirus pandemic.
PGIM Real Estate has launched a UK affordable housing fund, after raising initial capital of £190m from Northern LGPS and Brunel Pension Partnership.
Retail and hotels have taken the brunt of lockdowns, while logistics and residential have fared much better. Even when Covid-19 is bought under control, the path of recovery is far from straightforward, writes Stephanie Baxter