• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Prices and Markets

Residential Secure Income buys 1341 retirement homes

Residential Secure Income buys 1341 retirement homes – Residential Secure Income plc has announced the completion of its first acquisition with the purchase of a rental homes portfolio comprising 1,341 retirement properties for a total consideration of approximately £100m. The UK-wide portfolio is concentrated in Southern England and comprises long-leasehold or freehold interests in primarily one […]

Edward Marten by Edward Marten
2017-11-24 12:28
in Prices and Markets
FacebookTwitterLinkedinEmailWhatsapp

Residential Secure Income buys 1341 retirement homes – Residential Secure Income plc has announced the completion of its first acquisition with the purchase of a rental homes portfolio comprising 1,341 retirement properties for a total consideration of approximately £100m.

The UK-wide portfolio is concentrated in Southern England and comprises long-leasehold or freehold interests in primarily one and two bedroom modern, warden-assisted flats spread over more than 250 purpose-built retirement housing blocks. The portfolio provides RPI-linked assured tenancies to retirement-aged residents, offering lifetime security of tenure.

The portfolio is operated by Places for People group which is responsible for day-to-day management, rent collection and maintenance.

ReSI Capital Management Limited has received a number of offers from institutional funders for long-dated investment grade equivalent debt secured on the portfolio which will deliver equity returns in excess of ReSI’s total return target. The manager is working to complete the debt transaction with its preferred funder.

The manager has also identified a number of asset management opportunities to make operational improvements, which have the potential to enhance returns.

The portfolio is immediately income producing allowing ReSI to achieve its stated intention of declaring its first dividend for the period ending 31 December 2017, and the acquisition will enable ReSI to enter the REIT regime.

Shared ownership deal on track

The manager continues to progress the execution of approximately £250m of shared ownership transactions which are now expected to be contracted in early 2018.  ReSI therefore expects that the net proceeds of the IPO, plus leverage, will be fully-deployed within the nine-month period referred to in ReSI’s IPO prospectus.

RelatedPosts

Has Bitcoin bottomed out?

Five reasons why Bitcoin could be stuck in a temporary rut

Business Mogul Skeptical About Cryptocurrencies, Prefers NFTs

Nornickel’s GPF Rolls Out Instrument to Invest in Metals for Electric Car Industry

Ben Fry, Investment Manager of ReSI Capital Management Limited, commented: “We are delighted to have completed our first investment with the acquisition of such a strong portfolio of properties serving the retirement sector, an important and growing segment of demand.  The portfolio is operated by one of the leading social housing providers in the Places for People group, and furthers our ambition to become the leading capital partner to social housing providers.  We will now continue to progress the execution of our £250 million pipeline and remain excited by the scale of opportunities available across the sector.”

RESI : Residential Secure Income buys 1341 retirement homes

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Change UK loses six of its 11 MPs following disastrous EU elections

ONS revise government figures up by 10,000

Sixes Cricket Club opens in Fitzrovia: a new restaurant with state-of-the-art cricket nets

“This tragic event should serve as a lesson”: London Caliph responds to New Zealand terror attack

Tough action in devolved nations begs the question: What do English scientists know that others don’t?

No sh*t Sherlock! Universities keeping lectures online may struggle to justify ‘highest fees’

Star-damn! There are 2 trillion galaxies in Universe – ten times more than thought

Get your wallet out Phil? 15,000 jobs at risk as Sir Philip Green’s Arcadia retail empire ‘nears collapse’

Global Wildlife Populations Fall by 58% in 40 Years

DOES THE UK STILL NEED INTERNATIONAL WOMEN’S DAY?

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.