Sovereign Reversions Plc - September 2010
In September 2010 MREFII acquired a 50% stake in Sovereign Reversions Plc (“Sovereign Reversions”), a business which owns and manages portfolios of UK equity release plans.
The stake was acquired from Grainger Plc, following the takeover of Sovereign Reversions by Grainger, and is the first acquisition for the joint venture between MREFII and Grainger Plc in relation to equity release portfolios.
Key Facts
- Acquired in September 2010
- Joint venture with Grainger Plc, the market leader in the sector
- Equity release assets – predominantly home reversions
- c.1,000 residential properties where home owners have sold all or part of their home in order to release equity and have retained the right to continue living there rent free and interest free
- Manages third party assets
www.sovereign-reversions.co.uk