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Sigma Capital plans to launch, float new REIT

Sigma Capital Group plc's board is planning for the possible launch and flotation of an independent REIT during the second quarter of 2017.

Sigma is focused on delivering large-scale housing schemes for the private rented sector. The new REIT would be used to sell Sigma's developed assets in the sector, recycle its capital, and scale its self-funded delivery, according to a company release.

Sigma will manage the vehicle, which will primarily invest in private-rented-sector housing in the main English conurbations and the largest employment centers outside of London. The REIT is also expected to develop properties using Sigma's platform, which has around 1,100 units built, let and under management.

The Homes and Communities Agency has pledged to directly invest in the flotation of the REIT, while N+1 Singer Advisory LLP has been appointed to assist with the process.