BlackRock Real Assets has closed a £100m debt investment in a long-term finance raise for Wheatley Housing, Scotland’s largest housing, care and property-management group.
The debt financing will be used in part to develop around 3,500 new social and mid-market rented homes in Scotland.
Wheatley owns or manages 83,000 homes, most of which are for social rent, providing services to 200,000 people.
Jonathan Stevens, head of European infrastructure debt at BlackRock, said: “We are delighted to have closed this investment on behalf of our clients. The provision of social housing is an essential service, and housing in Scotland and the rest of the UK is in short supply.
“We hope our investment makes a genuine contribution towards addressing this issue while also providing our clients with an inherently stable, long-term cash-generating asset.”
In January, BlackRock closed a £275m debt investment for Trafford Housing Trust in Manchester along with a number of other institutional investors.
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