Gresham House has bought a portfolio of 247 shared ownership homes across three sites from Swan Housing for £38m.
The acquisitions in Barking (left), Basildon and Ilford (right) were made by its affordable housing company, Residential Secure Income. The latest buys follow similar schemes acquired from Metropolitan Thames Valley, Orbit, Brick by Brick, Ilke Homes and Tilia Homes earlier this year.
Housing association Swan will continue to manage the properties on a 20-year agreement. Swan will use the finance to improve existing homes and services and pursue new development.
David Orr, chair of ReSI Homes, said: “This is an extremely exciting time for us, because as a for-profit registered provider we are bringing additional institutional investment into the sector.”
Geoff Pearce, Swan’s deputy chief executive, added: “We see working in partnership with the for-profit RP sector as a key opportunity for Swan to unlock further investment into affordable housing delivery in the future.”
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
