A consortium has snapped up a portfolio of 290 of Scotland's finest properties.
The Grosvenor group and the Universities Superannuation Scheme (USS) have bought the houses for more than £70m.
The properties include Georgian and Victorian flats and townhouses in prime locations in Glasgow and Edinburgh.
The portfolio originally belonged to the developer Heritor's, which collapsed after its lender pulled the plug on the business last year.
The houses are spread across the prime residential areas of New Town, Stockbridge and West End in Edinburgh, and Merchant City, Park and West End in Glasgow.
David Sivewright, head of Grosvenor's Scottish office, said: "This is a significant deal which presents a unique opportunity to own some of Scotland's most desired residential properties.
"It comes at a time when there is a growing demand for high-quality lettings in prestigious city centre locations.
"Grosvenor's heritage has been built on identifying investment opportunities of the highest quality in the best areas of the world's finest cities. This deal very much fits in with this ethos."