Venn Partners has raised £88.7m in the close of its third PRS bond financing, taking the total it has raised for the sector to £353.7m.
The latest bond sales will finance nearly 700 new homes developed by Essential Living and Invesco Real Estate.
They are part of the £3.5bn PRS housing guarantee scheme that Venn manages for the UK government. Pricing for the bonds has so far been at a 0.41% premium to gilts.
Housing and planning minister Alok Sharma said: “Our housing white paper set out our plans to deliver a bigger, better private rental sector, and support new build-to-rent developments so that tenants have greater choice.
“I’m delighted the £3.5bn government-backed housing guarantee scheme is continuing to attract significant investment into the sector. Build to rent helps to boost the choice and quality of homes on the market, and meet the needs of renters in cities and towns across England.”
Venn Partners said it now has credit approved for a further £1bn with “many more” applications in the pipeline.
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