A supported housing REIT will announce plans to float today as it targets a £500m pipeline.
Independent Living REIT wants to raise £150m through an initial public offering next month. It will target accommodation designed for adults with learning difficulties, mental health issues or physical disabilities.
The trust will be managed by Atrato Partners, which also runs the £1.5bn Supermarket Income REIT that listed in 2017 and now forms part of the FTSE 250.
Chair Fiona Miller Smith said: “The number of vulnerable people relying on supported housing is set to significantly increase over the coming years, while the structural undersupply of appropriate accommodation remains. We aim to address this rising demand and limited supply by leasing affordable, dedicated housing to housing associations via a well-governed and compliant model.”
Atrato managing director David Blakeborough added: “Well-designed and appropriately priced supported housing delivers capital growth and inflation-linked income returns for investors, savings for the UK taxpayer, and improved outcomes for residents. Following our discussions with the regulator, we are excited to have built a model that will help address the significant shortage of high-quality supported housing in the UK.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
