Jan 3, 2022 - Economy

Terra Firma seeks buyer for U.K.'s Annington Homes

Illustration of a house.

Illustration: Annelise Capossela/Axios

Terra Firma is seeking a buyer for British residential property owner Annington Homes, at an asking price north of £9 billion (including assumed debt), per Sky News.

Why it matters: Annington is one of the U.K.'s largest private landlords. Most of its 40,000 homes are occupied by British military personnel, per a 200-year agreement with the Ministry of Defense.

The bottom line: "Terra Firma acquired Annington in 2012 from Nomura, the Japanese bank where [Terra Firma boss Guy] Hands previously worked on a series of pioneering deals, for a reported £3.2 billion. It was one of a string of property-related purchases that the tycoon has made, generating huge rewards for his family and, on many occasions, his external investors," per Sky News.

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