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Sign in Sign up for a FREE subscriptionReSI Capital Management and Morgan Sindall Investments agree on new £300m partnership
Residential Secure Income’s (ReSI) fund manager ReSI Capital Management (RCM) has entered into a new Housing Investment Partnership agreement (HIP) with Morgan Sindall Investments Limited (MSI).
The agreement aims to increase the supply of shared ownership homes, enabling more first-time buyers in the United Kingdom to establish themselves on the housing ladder.
HIP creates an exclusive arrangement between RCM and MSI to provide access to a pipeline of institutional-quality residential investment opportunities for its long-term capital by utilizing the market-leading expertise in social infrastructure and housing development of MSI and its other partners. HIP will initially target the delivery of 1,500 shared ownership homes with a value of up to £300 million ($388 million).
ReSI made its first investment in shared ownership residential in October 2018, when it acquired a £16.5 million ($21.3 million) portfolio of 34 homes from Crest Nicholson, having last J