Morgan Stanley Real Estate Investing Acquires Metra Living from L&Q in Partnership with Ridgeback Group for £1.045 Billion
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 acquire Metra Living, a high-quality, scaled platform in one of Europe’s most supply-constrained residential markets. This investment reflects our conviction in the long-term growth of the UK private rented sector, supported by structural demand for professionally managed rental housing. We look forward to building on the platform’s strong foundation and continuing to deliver high-quality homes and services to residents.”
