Aprirose has secured a new five-year debt facility for its £134.5m social housing portfolio with L&G’s private credit platform.
The portfolio, which was acquired by Aprirose in 2021, spans six properties in and around Crawley and a single large asset in Bristol.
The financing was completed on behalf of both external clients and L&G’s institutional retirement business.
Gareth Taylor, head of debt capital markets at Aprirose, said: “We are very pleased to continue to support much needed social housing in the UK. We are equally pleased to be working with a new lender in L&G, and the process with the team throughout was very sleek and professional.”
Patrick Sweeney, director at L&G real estate debt investments, added: “We are continuing to deliver on our promise to invest in, develop and help facilitate through debt financing, the provision of social and affordable housing in the U.K. The portfolio is well managed and has an excellent financial track record. We look forward to building on our new relationship with Aprirose and helping assist in their ambitions with the portfolio over the next five years.”
