LONDON: 26 OCTOBER 2017
PMM Group, the alternative asset management company that originates and manages real estate and real estate debt investment, announces that it has acquired a portfolio of shared equity loans from Bovis Homes Group PLC for a consideration of £21.9m.
PMM manages the Phoenix Shared Equity funds which are dedicated to acquiring portfolios of shared equity mortgages. It is the largest shared equity mortgage investment manager in the UK and, since 2012, has acquired the portfolios of a number of the UK’s largest housebuilders.
PMM has mandated Hampton Mortgage Servicing to provide loan administration services to its funds.
MIKE WESTON, PARTNER OF PMM GROUP, COMMENTED
“This transaction further cements PMM’s market leading position in shared equity mortgage investments. Since 2012 PMM has acquired over 15,500 loans with an initial face value in excess of £393m, and we believe that the Bovis portfolio will complement our existing investments in this area”
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