News / DIF Infrastructure III Buys stake in Leeds Social housing PFI

DIF Infrastructure III Buys stake in Leeds Social housing PFI

🕔 January 16, 2014
US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

On January 14, 2014, DIF Infrastructure III completed the purchase from Carillion of a 33.33 % shareholding in the Leeds Swarcliffe Social Housing PFI projectThe acquisition has been funded entirely with equity from the fund.

Debt financing is secured through a long term loan provided by the Bank of Scotland, part of Lloyds Banking Group.

The properties are owned by Leeds City Council. The facilities are maintained by Yorkshire Housing, a registered social landlord providing more than 15,000 affordable homes throughout Yorkshire.

The project has an operational track record of over 8 years and a remaining concession life of 21 years. The project was awarded in May 2005.

The Project involves the service provision of more than 1400 social housing properties in the Swarcliffe area of Leeds, supported by funding from the Office of the Deputy Prime Minister and Leeds City Council throughout the life of the project.

The work comprised the refurbishment of the Council owned dwellings, demolition of 4 tower blocks, garages and ancillary buildings freeing land for new construction, estate restructuring, new road and home zones and play areas, new shops and neighbourhood housing office.

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