Vistry has exchanged contracts with Zen Housing to deliver 767 affordable homes across 12 developments nationwide.
The for-profit registered provider is managed by Zen Living Management and backed by Tristan Capital Partners’ EPISO 6 Fund.
The partnership brings together Vistry’s national scale and delivery expertise, Zen’s affordable housing operating platform and the long-term institutional capital and investment strategy of Tristan Capital Partners’ fund.
Stephen Teagle, chief executive for partnerships and regeneration at Vistry, said: “This agreement is a strong example of how effective partnerships can unlock delivery at scale through investment across multiple sites. There is a clear and pressing need for affordable housing across the country, and by working with partners who share our ambition, we can help address the affordable housing crisis and make a meaningful difference in communities nationwide.”
Kristian Smyth, managing director for investments at Tristan Capital Partners, added: “This is a landmark deal with a leading UK provider, underlining the important role that private capital can play in the delivery of critical housing across England at a time when the gulf between demand and supply is most pronounced. Working with prominent housebuilders on a programmatic basis, we are focused on continuing to deliver high quality, social and affordable homes that support long-term sustainable communities.”
Tom Walsh, co-founder of Zen Living Management, said: “This transaction is a strong validation of our model: a regulated, for-profit operating platform that brings together blue-chip housebuilders and institutional capital to deliver affordable homes at scale. Vistry needed a counterparty with capital, national reach and execution certainty. Zen exists to be that counterparty, working with capital partners such as Tristan to deploy across multiple programmatic relationships in the sector.”
