Citra Living completed the acquisition of UK PRS portfolio of Gatehouse for £170m.

Citra Living, a part of Lloyds Banking Group, completed the acquisition of UK PRS portfolio of Gatehouse, a residential real estate investment and management platform, for £170m. "This portfolio, delivered in partnership with a leading sovereign wealth fund, is the second SFR platform Gatehouse Living Group has created, stabilised and exited, establishing another benchmark transaction for the sector. The performance of this portfolio is testament to our vertically-integrated approach – incorporating investment, asset and property management expertise – which has to date delivered over 4,000 homes across a number of portfolios. The continuation of the management mandate with Ascend, the UK’s largest third-party operator of SFR, underlines the group’s market-leading capabilities," Paul Stockwell, Gatehouse Managing Director.