Finance specialist targets £170m sector investment after striking new partnerships

Nexus will lead on the development and refurbishment of all acquired sites, which on completion will be managed by Social Housing Gateway.

Craig Sheppard, chief operating officer at Propifi, explained that the firm’s decisions “are guided by a ‘closed bridge’ strategy, with a clear focus within the social housing and assisted living sectors”.

He added: “Cementing our strategic partnerships with both Nexus Housing Developments UK and Social Housing Gateway will enable us to expedite our investment into the social housing sector, positively impacting the lives of individuals and families in need across the UK through the development and provision of quality, sustainable and affordable housing.

“This will enable us to provide secure and above average returns for our growing network of high net worth and sophisticated investors.”

Since launching the first series of its ‘senior secured bond’ programme, Propifi has invested tens of millions into the development of affordable housing, while also providing an 8.1% return to investors.

Another funding announcement earlier this month revealed how an investment company owned by Places for People partnered with an asset manager to launch an expanded shared ownership fund, with a goal of building a £1bn portfolio in five years.

Thriving Investments, which is owned by the large housing association, has teamed up with Gresham House to create a shared ownership “platform of scale”.

In the same week, Sovereign Network Group (SNG) secured a new £100m revolving credit facility with the UK division of Allied Irish Banks. The landlord is expected to use the funds to help to build 25,000 homes over the next decade.

Anup Dholakia, director of treasury at SNG, said the £100m would be “important in helping us realise those ambitions”.