BlackRock Real Assets has closed £75 million ($98.4 million) of debt issued by GreenSquare, on behalf of its clients. This debt transaction is secured against existing social housing stock and is a fully amortizing fixed-rate note with a 20-year maturity and 15-year average life.
GreenSquare is a housing provider with more than 11,500 social housing properties throughout Wiltshire, Oxfordshire and Gloucestershire in the United Kingdom. While secured by existing social housing stock, this debt financing also allows GreenSquare to build new homes in a market impacted by shortages in affordable housing. The transaction was completed through BlackRock’s European Infrastructure Debt team, which sits under BlackRock Real Assets. GreenSquare is the team’s third investment in the U.K. social housing sector, bringing its total invested capital in the sector to GBP250 million ($328 million) across the platform, alongside previous financings for Trafford Housing Trust and Wheatley
