GCP Infrastructure has completed a £12.3m investment in a loan note issued by GCP Social Housing 1 Limited. £1.4m of this money has already been committed and the rest will be deployed over the next five months.
The loan note has a life of 35 years and will be used to provide a loan facility secured on a senior basis to finance the acquisition of a number of social housing units for occupation by adults with learning or physical difficulties. One or more housing associations in England and Wales regulated by the Homes and Communities Agency will be responsible for fully repairing and insuring leases on the properties and the cash flow from this will service the loan.
They are financing the deal out of cash.
GCP Infrastructure lends against social housing