Pension Insurance Corporation has completed a second £40m senior debt placement with South Oxfordshire housing association Soha Housing.
The finance will allow Soha Housing to deliver 250 homes a year. It follows an initial £40m loan completed in 2018.
Draw-down is fully deferred until 2021, and the long-dated fund will mature in 2051.
Liz Cain, senior debt origination manager at Pension Insurance Corporation, said: “Soha provides housing in areas where house prices are generally unaffordable, and these funds will support the provision of hundreds of affordable rent and low cost home ownership homes.
“This is another example of PIC’s business model moving capital through the economy to areas where it is vitally needed.”
Soha Housing has a portfolio of almost 7,000 homes under affordable rent and shared ownership tenure, with more than 10,000 residents. The homes include flats, houses and specialist accommodation for older people.
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