Major social housing debt investment in Scotland

Blackrock Real Assets has closed a £100 million Scottish social housing debt investment, as the sole provider of private institutional debt, in a longterm finance raise for the Wheatley housing group in Scotland.

Wheatley, Scotland’s largest housing, care and property-management group, owns or manages 83,000 homes, most for social rent. The debt financing will in part be used to develop 3,500 new social and mid-market rented homes in Scotland.

Jonathan Stevens, head of European infrastructure debt at Blackrock, said: “We are delighted to have closed this investment on behalf of our clients.

“The provision of social housing is an essential service, and housing in Scotland and the UK is in short supply. We hope our investment makes a genuine contribution towards addressing this issue.” Wheatley chairman Alastair Macnish said the funding would allow the company to “press ahead” with providing affordable homes and good services across Scotland.