PROPERTY group Grainger yesterday announced the acquisition of The Tilt Estate Company for £47.9m.
Tilt owns more than 300 residential units in East Dulwich, London, and its property portfolio is valued at £62.5m.
Two-thirds of the properties are subject to assured shorthold tenancies and more than 50 are subject to regulated or assured tenancies. The portfolio generates annual rent of £2.2m.
Grainger said the purchase, from Wainford Holdings, had been funded from existing facilities. Chief executive Rupert Dickinson said: "We were delighted to have secured this portfolio off-market through our extensive network of contacts."
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