(Alliance News) - London-based Residential Secure Income PLC on Wednesday announced the acquisition of 39 shared ownership homes for GBP3.5 million, including deferred payments, bringing the company's total shared ownership portfolio to 205 homes.
Residential Secure, which invests in affordable shared ownership, retirement and local authority housing, purchased the homes from Step Forward Homes.
The new portfolio is located across the north west of England with 24 two and three bedroom homes which will be generating income immediately.
The other 15 homes are under construction and will be acquired in the next six months once construction is complete and the homes are occupied.
Investment Manager of ReSI Capital Management Ben Fry said: "We are particularly pleased to have completed this transaction against the current backdrop where many families, particularly those of key workers, are facing challenging situations where we can help meet a clear need."
Residential Secure shares were up 1.0% at 94.46 pence on Wednesday morning in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Residential Sec (RESI)