Grainger is Lloyds’ choice for portfolio
Grainger would manage the housing assets placed in RAMP, after the commencement of an insolvency process, said Grainger yesterday, adding the deal with part-nationalised Lloyds was the first of its kind in the UK.
“The transaction will deliver to Grainger a recurring income stream with the potential for further upside without the need to commit any group equity or debt,” said Grainger’s executive property director, Nick Jopling.
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Hide AdGrainger would receive fees based on rent, disposals and shared success fees, thereby aligning its interests with those of any administrator or receiver of any assets placed into RAMP.
Grainger said that it managed a portfolio in the UK comprising about 20,000 residential assets.