Sigma Capital has agreed a £268m refinancing deal with Morgan Stanley.
The facility has been established to refinance a newly-completed portfolio of circa 1,400 homes drawn from Sigma’s wider portfolio of circa 4,500 homes across the UK.
The homes, which are predominantly single-family homes, are located across 18 sites throughout the UK and have a market value in excess of £400m.
The new debt facility provides Sigma with an enhanced capital structure and supports the group’s long-term strategy of delivering high quality, professionally managed homes at scale.
Mike McGill, group finance director of Sigma Capital Group, said: “We’re delighted to have established this important new relationship with Morgan Stanley. It supports Sigma’s ongoing growth as a leading provider of BTR single family homes for institutional landlords in the UK. We have delivered some of the largest portfolios of new rental homes in the UK and are in the process of completing more, which takes our current delivery to around 13,500 new rental homes”
Mike Scott, group legal counsel at Sigma Capital Group, added: “Working with Morgan Stanley has been a great experience. The team brought a pragmatic, solutions-driven mindset and was consistently commercial throughout. Their collaborative approach meant that the facility was delivered on time and within budget, and we look forward to building on this new relationship as Sigma continues to scale.”
Laurus Property Partners provided additional support to Sigma’s in-house team on the deal.
