Gresham House ReSI LP secures sustainability-linked loan for UK shared ownership housing

Gresham House Residential Secure Income LP (ReSI LP), a limited partnership investing in UK shared ownership property, has secured a £30 million sustainability-linked credit facility with Mitsubishi UFJ Financial Group, Inc (MUFG) to aid the development of shared ownership housing in the UK.

This marks Gresham House’s housing team’s inaugural sustainability-linked credit facility and will assist ReSI LP in delivering over 1,400 energy-efficient, affordable, shared ownership homes.

The facility features sustainability Key Performance Indicators (KPIs) for reducing carbon emissions and enhancing energy efficiency in homes. 

 ReSI LP’s goal is to enhance social benefits by reducing the lifetime cost of housing for lower and middle-income individuals, ensuring long-term and inflation-linked income returns for investors.

The loan aligns with Gresham House’s aim to provide sustainable and efficient homes in its strategy focused on areas facing housing affordability challenges and benefiting local communities.

According to Gresham, the deal marks the end of a robust year for the strategy, committing £300 million to its portfolio of around 1,400 shared ownership homes since its launch in 2021, with an active pipeline for an additional 10,000 homes.

Ben Fry, managing director of housing at Gresham House, said: “This credit facility will support ReSI LP’s continued investment in shared ownership housing around the UK at a time when this is crucial to addressing the housing crisis. Sustainably delivering housing is a key part of the fund’s strategy, so the ambitious sustainability incentives within this facility will support the fund in improving its already strong environmental performance.”

© 2023 funds europe

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