Northern Ireland's Radius social housing gets £105m funds investment
A social housing provider here has secured a £105m investment from UK and US investors.
Radius Housing is the first social housing provider in Northern Ireland to secure what is called a "private placement investment" on that scale.
Private placement is a means of raising finance via investors with long-term repayments, and the transaction is expected to provide funds in 2020, subject to satisfactory completion of due diligence. The association manages more than 13,000 homes in Northern Ireland and builds more than 400 new social and affordable homes every year.
It said the new funds would allow it to continue to expand.
The investment follows on from Radius' visit to London and North America in September where they presented their development plans to a range of investors.
John McLean, chief executive of Radius Housing, said "North American and UK investors responded positively to our vision and plans for growth through the construction of new social and affordable housing across Northern Ireland".
"There was a recognition that the social housing sector has consistently delivered and that we operate in an effective regulatory environment. Crucially, they saw, as an industry leader, Radius is best placed to grow further."
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