BlackRock has acted as the majority debt provider on heylo housing’s GBP362.5 million acquisition of a portfolio of 3,000 shared-ownership homes through its Home Reach scheme, marking a significant milestone for BlackRock and heylo.

heylo is the UK’s specialist provider of shared ownership housing, working with government, Homes England and over 90 house builders to deliver shared ownership properties from Carlisle to Cornwall. Its Home Reach product expands the pool of eligible homebuyers, helping them buy a share in their home with equity and a mortgage and pay a long-term, inflation-linked rent to lease the remaining share. It is currently available on 240 developments nationwide.

Funding for the portfolio acquisition comprises GBP262 million index-linked and GBP100 million fixed rate facilities provided over 25-years. This marks BlackRock Real Assets’ eighteenth investment in the UK residential sector, where it has so far committed GBP1.1 billion, demonstrating its commitment to support affordable living across the UK.

Jonathan Stevens, Head of European Infrastructure Debt at BlackRock, says: “heylo housing plays an important role in supporting the provision of affordable housing in the UK and we’re thrilled to assist its latest acquisition. The transaction demonstrates BlackRock’s ability to provide sizeable, flexible debt solutions and our pursuit of investments aligned with clients’ ESG commitments.”

Read more/Source: Property Funds World