Asset management giant continues investment in shared ownership with £30m facility

ReSI LP has now committed £300m of its portfolio of roughly 1,400 homes since launching the strategy in 2021. It aims to lower the lifetime cost of housing for people on lower incomes, while simultaneously offering long-term inflation-linked returns to investors.

Gresham has so far facilitated over £11bn of new investment into affordable housing, as well as other residential property sectors.

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.

“Delivering housing in a sustainable way 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.”

Sanjay Narbheram, head of housing finance at MUFG, said: “MUFG is delighted to have worked with the Gresham House UK housing team on their first sustainability-linked transaction and to support the company in its commitment to sustainability.”

In December, the boss of the UK’s largest landlord told MPs that providers of shared ownership “need to be clear about what they’re selling”.

Clare Miller, chief executive of Clarion, was giving evidence as part of the Levelling Up, Housing and Communities Committee’s inquiry into shared ownership.

The committee launched an inquiry in July with a remit to examine staircasing, reselling and the affordability of service charges.

How landlords sell and market shared ownership properties and the advice they provide to prospective buyers has come under the spotlight recently.

In August, the Financial Conduct Authority warned landlords against providing financial advice related to loans and pension contributions to prospective shared owners during the sales process.