Published by Global Banking & Finance Review®
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleKKR joins PRS REIT's sale process, with Long Harbour's bid still active. PRS REIT shares rise as UK assets attract US interest.
(Reuters) - British real estate investment trust PRS REIT said on Monday that U.S. private equity firm KKR had joined its formal sale process, which already involves a bid from property investor Long Harbour.
Under the UK's formal sale process, KKR can approach PRS REIT as an interested party without making an immediate public offer. PRS REIT said it had not yet received a bid from KKR.
KKR declined a Reuters request for comment.
PRS REIT shares rose 8.8% to 106.6 pence on Monday, making it the top performer on the FTSE mid-cap index.
Weaker UK valuations have made British assets more attractive to U.S.-based firms, with UK-listed real estate investment trusts drawing interest from buyers looking to bulk up in an uncertain economic backdrop.
KKR has made several takeover offers to UK-listed firms in 2025, including a $6.4 billion offer for Spectris and a failed pursuit of Primary Health Properties.
PRS REIT said on Monday that Long Harbour had not withdrawn its 631.6 million pound ($854 million) takeover proposal received in June, under which PRS REIT shareholders would get 115 pence per share in cash.
PRS, which focuses on family homes in the private rented sector, launched a formal sale process following a strategic review that began last October after it replaced two board members, including its chair.
($1 = 0.7394 pounds)
(Reporting by Raechel Thankam Job and Unnamalai L in Bengaluru; Editing by Harikrishnan Nair and Joe Bavier)
A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate. They provide a way for individual investors to earn a share of the income produced through commercial real estate ownership.
Private equity refers to investment funds that buy and restructure companies that are not publicly traded. These investments are typically made by private equity firms, venture capitalists, or accredited investors.
Market valuations are estimates of the worth of an asset or company based on current market conditions. They help investors make informed decisions regarding buying or selling assets.
A strategic review is an assessment process where a company evaluates its strategies, goals, and performance to identify areas for improvement and future direction.
A bid is an offer made by an investor to purchase an asset or security at a specified price. It represents the maximum price that the buyer is willing to pay.
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