GCP Infrastructure Investments has announced that it has completed a transaction in which it has subscribed for a loan note with an expected term of approximately 35 years and an initial value of up to £25.5m (when fully drawn). The Company advanced approximately £1.4m on the completion of the transaction and the majority of the balance is expected to be advanced over the next twelve months.
The Loan Note is being issued by GCP Social Housing 1 Limited and the proceeds are to be used to finance the acquisition of a number of social housing units for occupation by adults with learning or physical difficulties. The social housing units will be subject to one or more fully repairing and insuring leases with terms of up to 35 years. The leases are to be made to housing associations in England regulated by the Homes and Communities Agency. The purchase of the Loan Note has been financed fully from resources within the Company.
GCP Infrastructure commits £25.5m to Social Housing : GCP