Aviva Investors, Aviva’s global asset manager, has provided £72.5 mln (€85.5 mln) in funding to social landlord Peaks & Plains Housing Trust.
The deal will enable Peaks & Plains to continue implementing its plans for communities in three local authority areas in Cheshire, in addition to Derbyshire, High Peak in the East Midlands, and the North West of England.
Based in Macclesfield, the housing provider manages over 5,000 homes across East Cheshire and the High Peak.
Earlier this month, Peaks & Plains announced that the Cheshire East Council has approved plans for 28 new affordable homes on Northwich Road.
Munawer Shafi, head of structured and private debt at Aviva Investors, said: ‘Social housing financing not only plays an increasingly vital role in providing affordable homes to communities, we believe it also offers investors attractive risk-adjusted and counter-cyclical returns compared to other sectors. The ability of social housing to provide solid cashflows whilst having a positive impact beyond our business and into communities makes it a compelling sector for us to increase our exposure to and to continue our support of.’
Aviva has previously provided funding to social housing associations in Wales & West, Coastal and Settle.
