Aviva Investors has agreed a £60m private debt facility for housing association Coastal Housing Group.
The 30-year loan is the housing association’s largest fundraise to date, and will support expansion across South Wales.
Coastal Housing was formed in 2008 through the merger of Swansea Housing Association and Dewi Sant Housing Association. It is based in Swansea and has 6,000 homes under management.
Munawer Shafi, head of structured and private debt at Aviva Investors, said: “The counter-cyclical nature of social housing, coupled with high relative value and a strong regulatory underpinning, make it an attractive sector in the current environment.
“This deal fits well with our strategy of investing in long-dated predictable cashflows, which aim to offer attractive risk adjusted returns to our investors.”
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