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http://www.investegate.co.uk/prs-reit-plc--the-/rns/intention-to-float---fundraising-of-up-to--250m/201705040700121217E/ "The UK Government's Homes and Communities Agency ("HCA") will support the Issue with a direct investment in the Company of 9.99 per cent. of the Gross Issue Proceeds, up to £25 million... The Company's investment objective is to provide investors with an attractive level of income together with the prospect of income and capital growth through investment in a portfolio of newly-constructed, residential PRS sites of multiple units. These units will comprise mainly family homes, let on Assured Shorthold Tenancies (as defined in the Housing Act 1988) to qualifying tenants. The properties will be located across sites in cities and towns in England with a focus on the main conurbations, and largest employment centres, outside London. The locations follow the main rail and road infrastructure, including the proposed HS2 and HS3 rail networks. The assets will come with the benefit of a 10 year National House Building Council or equivalent warranties, with a consequently low level of capital expenditure allied to a predictable and low cost maintenance regime. Identified and secure pipeline of assets · Pipeline of approximately 2,535 new homes with a Total Cost of c.£375 million is already identified and contracted, including a seed portfolio of c.£72 million of assets either completed or under construction. · Strong relationships with Local Authorities and House Building Partners (Countryside Properties plc, Keepmoat Regeneration Limited and Keepmoat Homes Limited) provide land access and development expertise."