Macquarie Infrastructure Debt Investment Solutions (MIDIS) and MUFG Bank (MUFG) have provided a long-term debt facility of £150 million (US$196,52 million) in the form of a three year revolving credit facility (RCF) of £30 million (US$39,30 million), a 40 year senior secured private placement of £50 million (US$65,50 million) that refinances the RCF, and a shelf facility of £100 million (US$131,01 million) for Shepherds Bush Housing Association (SBHA).
SBHA owns or manages over 5,000 homes that are largely social and affordable, primarily located in the popular area of the London Borough of Hammersmith and Fulham. The funding will allow SBHA to boost their affordable and shared ownership housing provision. The chronic shortage of affordable homes in West London, coupled with high property prices, continues to drive the need for social housing. MIDIS and MUFG are proud to be supporting SBHA’s ambition to improve the situation in West London, with SBHA targeting the development of around 200 homes per year over the next four years.
This is MIDIS’ third investment in the UK social housing sector, taking total commitments to over £200 million. This is expected to continue as housing associations raise finance to address the housing crisis in the UK, and institutional investors are increasingly attracted to the sector.