Southside Housing Association (SHA) will use the five-year £30m loan facility to support the finance of upgrades to existing properties and the building of more than 260 homes, ranging from one to five bedrooms, in Pollokshields and Cardonald.
The revolving credit facility allows SHA to draw on funds when needed, converting the borrowing into longer-term loans.
SHA, which operates across Glasgow’s southside, has hailed the deal as “ground-breaking”.
Mandy Wright, head of finance at Southside Housing Association, said the loan facility offers a great deal of flexibility.
Michael McCuaig, corporate banking manager at Handelsbanken, said the tie-up “provides us with a fantastic opportunity to invest in Glasgow”.