LGIM Real Assets

LGIM Real Assets provides £50m to support development of 1,100 homes

LGIM Real Assets (LGIM RA) has provided £50m in long-term financing to support a housing association develop 1,100 new homes across the South East of England over the next five years.

The multi-tenure development programme from Raven Housing Trust – which operates across Surrey and Sussex – will provide homes for affordable rent, shared ownership and market sale.

Steve Aleppo, interim director of governance and finance at Raven, said that this was a significant milestone for the housing association.

“It’s a great endorsement of our plans to make a difference to the lives of our customers.”

LGIM RA has invested around £1bn to a range of registered housing providers to date.

The latest financing has been provided on behalf of its clients, namely Legal & General Retirement Institutional.

“This transaction is a testament to our commitment to this sector, and shows that it continues to be a significant focus for LGIM RA as part of our wider group strategy to deliver much-needed quality homes in the volume that society requires,” added Steve Bolton, investment manager of corporate private credit and LGIM RA.

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