Morgan Stanley, Ridgeback Acquire UK Housing Provider Metra Living for $1.05 Billion

Morgan Stanley Real Estate Investing and Ridgeback Capital Management announced June 16, 2026, the acquisition of Metra Living from UK housing association L&Q for $1.05 billion. The transaction marks one of the largest private residential real estate deals in the UK this year. Metra Living operates as a built-to-rent housing provider in the United Kingdom. The deal reflects growing institutional investor appetite for stabilized residential income streams amid elevated property yields. L&Q, a regulated social landlord, divests the asset as part of its portfolio optimization strategy. Financial advisors and deal closing timelines were not immediately disclosed. The acquisition expands Morgan Stanley's European residential holdings while providing Ridgeback entry into the UK rental housing sector.