BlackRock and heylo agree €420m funding facility for shared ownership homes

BlackRock has acted as the majority debt provider on heylo housing’s £362.5 million (€420 million/$513 million) acquisition of a portfolio of 3,000 shared-ownership homes through its Home Reach scheme, marking a significant milestone for BlackRock and heylo.

heylo is the United Kingdom’s specialist provider of shared ownership housing, working with government, Homes England and over 90 house builders to deliver shared ownership properties from Carlisle to Cornwall. Its Home Reach product expands the pool of eligible homebuyers, helping them buy a share in their home with equity and a mortgage and pay a long-term, inflation-linked rent to lease the remaining share. It is currently available on 240 developments nationwide.

Funding for the portfolio acquisition comprises £262 million (€304 million/$371 million) index-linked and £100 million (€116 million/$142 million) fixed-rate facilities provided over 25 years. This marks BlackRock Real Assets’ 18th inves