Aberdeen Standard Investments has agreed a £70m financing deal with housing association Network Homes.
The 50-year investment will support affordable housing development, in partnership with its investment manager Phoenix Group.
The maturity profile has been tailored to match the pension liabilities of Phoenix Group.
Institutional investors are increasingly turning to housing associations for investment opportunities, which are typically counter-cyclical and supported by stable cash flows, government support, and regulatory oversight.
Network Homes owns and manages 20,000 homes across London, Hertfordshire and the South East, with some 3,000 homes in its pipeline.
Fiona Dickenon, investment director at ASI, said: “Our clients continue to seek good quality, long-term cash flows secured against residential property; this transaction being a good example.”
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
