British real estate investment trust PRS REIT on Monday said KKR joined its formal sale process that already involves a bid from property investor Long Harbour, but added that the U.S. private equity firm had not made an offer. Shares of PRS REIT rose 8.8% to 106.6 pence, making it the top performer on the FTSE mid-caps index, which is up 0.6%. Weaker UK valuations have made British assets more attractive to U.S.-based firms, with UK-listed real estate investment trusts drawing interest from buyers looking to bulk up in an uncertain economic backdrop.Read More
