Sept 8 (Reuters) - 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.

PRS REIT said Long Harbour has not withdrawn its 631.6

million pounds ($852 million) takeover proposal received in

June, under which shareholders of the company would get 115

pence per share in cash.

PRS, which focuses on family homes in the private rented

sector, launched a formal sale process following a strategic

review that began last October after it replaced two board

members, including its chair.

KKR did not immediately respond to a Reuters request for

comment. It has made several takeover offers to UK-listed firms

in 2025, including a $6.4 billion offer for Spectris ( SEPJF ) and

a failed pursuit of Primary Health Properties ( PHPRF ).