UK’s largest pensions insurance specialist Rothesay is providing £110m (€128.4m) to help finance Get Living’s 821-homes community in Greater Manchester.
The investment from the £60bn asset manager will refinance the UK build-to-rent operator’s New Maker Yards located on the Salford-Manchester border.
Get Living said the deal is its first with Rothesay and the largest financing facility it has had to date outside of London.
Dan Greenslade, Get Living’s CFO, said: “We are delighted to have Rothesay on board at New Maker Yards. Securing a financing partner of this calibre is testament to the strength of the offer at the neighbourhood and reflects long-term confidence in the wider build-to-rent sector.
“Demand for high-quality, professionally managed homes for rent in the UK’s regional cities is only set to increase as people of all demographics seek a better rental experience.”
Harish Haridas, the head of commercial real estate debt at Rothesay, said: “Rothesay’s investment strategy is focused on securing high-quality, long-term assets to protect the pensions of our almost one million policyholders.
”Our dedicated in-house investment team enables us to find the right type of opportunities, like New Maker Yards, which deliver predictable returns while also supporting wider stakeholders and society.”
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