ReSI Housing awarded IP status by Homes England

RNS Number : 7102G

Residential Secure Income PLC

19 March 2020

 

19^th March 2020

Residential Secure Income plc

ReSI Housing awarded Investment Partner status by Homes England

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, is pleased to announce that ReSI Housing, its wholly owned For-Profit Registered Provider of Social Housing has been awarded Investment Partner status by Homes England, the U.K. government public body t hat funds new affordable housing in England.  The new status allows ReSI to access Homes England's £4.7 billion Shared Ownership and Affordable Homes Programme "SOAHP" 2016-21.

ReSI Housing is already an Investment Partner with the Greater London Authority ("GLA") and, as previously announced, has secured £6million of government grant to date to support the ongoing delivery of ReSI's shared ownership portfolio in London. 

Investment Partner statuswith Homes England extends ReSI Housing'sabil i ty toaccess grant funding to include schemes outside of London and bring forward much needed additional Affordable Housing at national level.

Boththe new Homes England and theGLA programmes provide government grant funding as a capital contribution towards new sub - market rented housing such as shared ownership, affordable rent and social rent.

Alex Pilato, CEO of ReSICapital Management, commented: "Achieving Investment Partner status from Homes England allows ReSI to help them bring forward much needed new affordable housing right across the UK, working with national House Builders in allocating funds efficiently. "

FOR FURTHER INFORMATION, PLEASE CONTACT:  

ReSI Capital Management Limited / TradeRisks Limited Ben Fry Alex Pilato Mark Rogers James Sly	[phone]
Jefferies International Limited Stuart Klein Gary Gould	[phone]
FTI Consulting Richard Sunderland Claire Turvey Richard Gotla Methuselah Tanyanyiwa	[phone] Email: [e-mail]

NOTES:

Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) listed on the premium segment of the Main Market of the London Stock Exchange with the objective of delivering secure inflation linked returns by investing in affordable shared ownership, retirement and Local Authority housing throughout the UK.

ReSI targets a secure, long-dated, inflation-linked dividend of 5.0 pence per share p.a. (paid quarterly) and a total return in excess of 8.0% p.a. and has to date committed c. £300 million, assembling a portfolio of 2,680 properties.

ReSI aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (Housing Associations, Local Authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial new affordable housing.

ReSI's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of Social Housing, and so provides a unique proposition to its housing developer partners, being a long term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

ReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 19 year track record of executing transactions within the UK social housing sector and, to date, has arranged funding of over £11 billion in the social housing, care and other specialist residential property sectors. TradeRisks Limited and ReSI Capital Management Limited were acquired on 4th March 2020 by Gresham House plc, the specialist alternative asset management business which is listed on the London Stock Exchange and now has c.£3 billion of assets under management.

Acquisitions by ReSI are limited to homes with sufficient cashflows, counterparty credit quality and property security to be capable of supporting long ‑ term investment grade equivalent debt.

ReSI does not manage or operate stock and uses experienced and credit-worthy third party managers.

Further information on ReSI is available at www.resi-reit.com  

 

END

 

 

MSCKVLFFBXLZBBZ