Social impact investor registers for-profit provider with the RSH

CIM described itself as an “impact investment firm that is dedicated to achieving long-term sustainable returns for our global investors by acquiring community-focused assets that deliver positive social outcomes”.

In 2016, it launched Civitas Social Housing, one of several funds set up in recent years that acquires properties and then leases them to small housing associations for use as specialist supported housing or exempt accommodation. 

Bobby Heapy, chair of Quartz Housing, said: “Accelerating the supply of high-quality social housing across the UK is an urgent priority, and achieving registered provider status moves us one step closer to becoming an active market participant.

“We are thankful to the Regulator of Social Housing for recognising what we are looking to achieve with Quartz Housing and look forward to updating the market as we bring forward our pipeline.”

Andrew Dawber, group director at CIM, said: “Quartz Housing represents our further commitment to delivering additional new high-quality social and affordable housing of various tenures to support people to live within their own communities and to contribute to sustainable place making.”

Last year, Civitas agreed a £485m deal with a company owned by Hong Kong-based property giant CK Asset Holdings. 

It said it accepted the all-cash offer from Wellness Unity, despite believing it “undervalues the long-term prospects of Civitas”.