Morgan Stanley Investment Management, via its Morgan Stanley Real Estate Investing (MSREI) funds, and Ridgeback Group have agreed to purchase Metra Living, the private‑rented housing arm of London & Quadrant Housing Trust (L&Q), in a deal valued at £1.045 billion.
The transaction comprises roughly 3,200 rental homes across Greater London, Metra Living’s operating platform and staff, and £300 million of external debt facilities.
Founded in 2015, Metra Living manages a professionally operated rental portfolio that targets London’s constrained housing market. The assets are concentrated in locations with strong rental demand and solid long‑term housing fundamentals.
Morgan Stanley said the acquisition supports its strategy of investing in high‑quality residential platforms in major urban markets where limited housing supply underpins sustained rental income growth.
After the deal closes, L&Q will continue to provide freeholder services for leased properties within its developments.
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