Legal & General signs $187m RCF to finance suburban build-to-rent homes

Legal & General’s Suburban Build-to-Rent business (SBTR) has signed a £150 million ($187 million) five-year revolving credit facility to finance its pipeline of 1,000 suburban build-to-rent homes.

Backed by HSBC U.K., Barclays and Natwest, the facility will help to address the significant demand for quality rental housing across the United Kingdom, creating the high-quality homes and communities that enable people to live healthier lives.

Legal & General’s SBTR platform creates much needed, high-quality family homes in areas connected to schools, transport infrastructure and key amenities. Legal & General’s SBTR homes are designed to reflect new ways of living post-COVID and features that promote health, such as exceptional build quality, home offices for flexible working and access to more extensive outdoor space. In line with Legal & General’s wider commitment to sustainability, the SBTR platform will target to be operationally carbon net zer