CBRE Investment Management is forward funding 153 affordable homes in Sussex on behalf of its UK affordable housing fund.
The CBRE UK Affordable Housing Fund (AHF) is investing an unspecified amount to buy the project located at The Gateway, Bexhill-on-Sea, from housebuilder Vistry Group.
Andrew Davey, head of long income and housing at CBRE IM, said: “The addition of 153 affordable homes follows significant transaction volume in 2023 and reaffirms our commitment to alleviating the affordable housing shortage in the UK.
“By leveraging institutional capital, we aim to address the structural mismatch between the demand and supply of good quality affordable housing, whilst fulfilling our investors’ fiduciary duties.”
AHF, which invests across regulated rent, local affordable rent and affordable-ownership properties, currently owns around 2,500 affordable homes.
Mary McHutchison, regional sales and marketing director for Vistry Kent, said: “As a partnerships-focused housebuilder, Vistry is firmly focused on alleviating the shortage of affordable homes across the UK.
“Our relationship with CBRE IM will play a significant part in achieving this across our region. People living in and around Bexhill will have access to more high quality, energy-efficient housing.”
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