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16.06.26 - 18:33
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Morgan Stanley Real Estate Investing Acquires Metra Living from L&Q in Partnership with Ridgeback Group for £1.045 Billion (Business Wire)
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LONDON--(BUSINESS WIRE)--Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), alongside Ridgeback Group (Ridgeback), announced today the acquisition of the Private Rented Sector (PRS) business of London & Quadrant Housing Trust (L&Q), which trades as Metra Living, for a total enterprise value of £1.045 billion.
The transaction includes a portfolio of approximately 3,200 homes across Greater London, as well as its fully integrated operating platform, team and £300 million of external debt facilities.
Established in 2015, Metra Living has developed into a scaled, institutionally managed PRS platform focused on delivering high-quality rental housing. The portfolio is concentrated in supply-constrained London submarkets, supported by strong underlying rental demand and favourable long-term market fundamentals.
Commenting on the transaction, Shamik Narotam, Managing Director at Morgan Stanley Real Estate Investing, said: “We are pleased to ...
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16.06.26 - 14:54
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Stock Rally Pauses As Attention Turns To Warsh′s First FOMC (ZeroHedge)
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Stock Rally Pauses As Attention Turns To Warsh's First FOMC
US futures are flat, pausing after a three-day rally with investors shifting their focus to this week's FOMC meeting, Kevin Warsh's first, which begins today. As of 8:00am ET, S&P futures are up 0.1% after surging 2% on Monday; and Nasdaq futures gain 0.3%, as SpaceX continued to surge, rising 11% overnight and on track for a more than 50% jump since going public, and briefly surpassing Microsoft's market value in afterhours trading. Pre-market, most of the Mag 7 names are lower; TSLA (-1.7%) and NVDA (-0.6%) are among the laggards.The dollar slipped and Treasuries rose with bond yields 1-3bp lower and the 10Y trading 4.44%. West Texas Intermediate crude fell 3% to $78 a barrel as Goldma and Morgan Stanley cut their oil price forecasts. Base metals are also lower, while gold and silver both rise 0.7% this morning. Overnight, the main macro headline was BoJ (policy rate to 1% with the tapering plan unchanged; a bit hawkish to...
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