Business
Acquisition of 39 shared ownership homes
Acquisition of 39 shared ownership homes.
About this update from Residential Secure Income Plc
[{"type":"text","content":"\n \n \n RNS Number : 3183S\n Residential Secure Income PLC\n 08 July 2020\n \n \n \n \n 8 July 2020\n \n \n \n \n \n Residential Secure Income plc \n \n \n \n \n \n Acquisition of 39 shared ownership homes\n \n \n \n \n \n Residential Secure Income plc (\"ReSI\") (LSE: RESI),\n \n which invests in affordable Shared Ownership, retirement and Local Authority housing, has acquired 39 shared ownership homes for a total consideration of £3.5 million including deferred payments. The properties have been purchased from Step Forward Homes, which specialises in the provision of homes for key workers, in particular the Armed Forces and Emergency Services personnel.\n \n \n \n \n \n \n The portfolio is located across the north west of England and comprises 24 two and three bedroom homes that will be immediately income generating, enhancing ReSI's dividend cover. The remaining 15 homes will be acquired by ReSI within six months once construction is completed and the homes are occupied. The acquisition brings ReSI's total shared ownership portfolio to 205 homes and is funded through ReSI's new ultra-long term £300 million debt facility.\n \n \n \n \n \n Gary Metcalf, Director at Step Forward Homes said: \"The proceeds from this timely sale will be recycled into the development of further, much needed affordable homes for key workers. This is the first transaction we have worked on with the team at ReSI and we are looking forward to building a longer term relationship with them as Step Forward works to create a lasting social impact.\"\n \n \n \n \n \n Ben Fry, Investment Manager of ReSI Capital Management, commented: \"We are particularly pleased to have completed this transaction against the current backdrop where many families, particularly those of key workers, are facing challenging situations where we can help meet a clear need. This is a portfolio of high quality homes that further expands our shared ownership exposure and enables us to support housing delivery at a time when the supply is starved.\"\n \n \n \n \n \n \n \n \n FOR FURTHER INFORMATION, PLEASE CONTACT: \n \n \n \n \n \n \n \n \n ReSI Capital Management Limited / Gresham House Housing \n \n \n Ben Fry \n \n \n Alex Pilato\n \n \n \n \n \n \n \n +44 (0) 20 7382 0900\n \n \n \n \n \n \n \n \n &nbs...