BauMont makes UK debut with acquisition of PRS portfolio

BauMont Real Estate Capital has made its UK debut with the purchase of 182 rented apartments in London.

Earlier this year, the firm raised €337 million (£287 million) for its first private equity real estate fund and confirmed intentions to target Western European property, with a focus on France and the UK.

This first portfolio was purchased for £37 million from a private family office in partnership with Addington Capital, whose sister company Addington Living will manage the properties.

According to Natalie Harrison, UK investment director at BauMont, “The portfolio will be resilient and offer well-located, good quality, affordable homes in a part of the market that is undersupplied… We are delighted to be working with Addington, who are experienced in managing this type of portfolio and have an excellent track record.”

Meanwhile, Matthew Allen — principal of Addington Capital — said: “We look for value-add opportunities in the sector and have recently focused on the Greater London residential market, which has been subdued for many years but offers strong fundamentals… This portfolio offers opportunities for refurbishing stock and new development.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.