Residential Secure Income Plc (ReSI), which invests in independent retirement living and shared ownership property to deliver secure, inflation-linked returns, has acquired 182 shared ownership homes from English housing association Orbit.
The £21 million transaction is for 182 houses across 10 counties and is the second shared ownership tenanted transaction between ReSI and Orbit, after the acquisition of 191 shared ownership homes in March 2021.
The latest deal takes ReSI Plc’s total shared ownership portfolio to more than 725 homes.
ReSI is managed by Gresham House, a listed specialist alternative asset manager with £6.5 billion under management, and manage over 1,250 shared ownership homes and around 3,600 rental homes.
Ben Fry, managing director of Housing at Gresham House, said: “Rising demand and historic undersupply mean there is a growing need for affordable housing in the UK – 94% of which is currently provided by not-for-profits such as Orbit.
“ReSI’s ability to provide these organisations with new capital supports their development of much needed new affordable homes. At the same time, this strategy offers a stable source of inflation-linked income for savers looking to secure their future in an increasingly uncertain environment,” he continued.