Macquarie Asset Management has provided £80m (€95.8m) of long-term debt financing to UK not-for-profit housing association Havebury Housing Partnership.
Macquarie said the debt financing will support the charitable registered provider of affordable, social, and shared-ownership housing to maintain the quality of its existing portfolio, ensure all homes achieve an energy performance certificate of Level C by 2030 and develop 250 new homes per year to 2028.
Macquarie Asset Management’s commitment follows an initial £75m debt investment made by its private credit platform in Havebury Housing Partnership in 2017.
It said the investment had been enabled the housing association to maintain its goal of delivering more than 1,200 new homes between 2017 to 2023.
Gareth Edwards, a senior vice president at Macquarie Asset Management, said: “The pandemic has underlined the importance of quality homes, communities, and neighbourhoods to our wellbeing. The team at Havebury have always understood this and put people at the heart of everything they do.
“We welcome this opportunity to provide this additional financing so they can continue their important work of delivering quality, safe, and sustainable housing to families.”
Marie McCleary, director of resources at Havebury Housing Partnership, said: “Macquarie is a long-term supporter of ours and we are absolutely delighted to be able to deepen our partnership with them through this new financing agreement.
“This funding package provides us with the flexibility we need as we seek to deliver on our strategy and increase access to affordable housing in the East of England.
“We have an exciting development programme already underway, and I am pleased that Macquarie will be there to support us as we continue to grow and invest in our existing homes.”