Residential Secure Income PLC - real estate investment trust focused on retirement living and shared ownership homes - Wins a deal with social impact real estate firm HSPG Ltd. Under the pact, Residential Secure has the option to buy HSPG's entire pipeline of shared ownership properties on a tranched basis.
Expects to buy at least GBP50 million of properties as part of the deal over the next three years.
Says the first transaction is complete, with Residential Secure buying 21 completed homes at the Laureate Fields development in Felixstowe, Suffolk, for GBP2.7 million. Says they are part of a larger 197-unit "masterplan development" and comprise a mix of detached, semi-detached and terraced two storey houses.
Current stock price: 114.02 pence, down 0.4%
12-month change: 6.1%
By Xindi Wei; xindiwei@alliancenews.com
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Residential Sec (RESI)