BlackRock Real Assets has closed a £100 million social housing debt investment for the Wheatley housing group.
Wheatley, Scotland’s largest housing, care and property-management group, owns or manages 83,000 homes, most for social rent. The debt financing will in part be used to develop 3,500 new social and mid-market rented homes in Scotland.
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Jonathan Stevens, head of European infrastructure debt at BlackRock, said: “We are delighted to have closed this investment on behalf of our clients.”
He added: “The provision of social housing is an essential service, and housing in Scotland and the UK is in short supply. We hope our investment makes a genuine contribution towards addressing this issue.”
Wheatley chairman Alastair MacNish said the funding would allow the company to “press ahead” with providing affordable homes and good services across Scotland.