Approximately £73.5m was used to complete the purchase of 19 regulated social housing properties comprising 266 tenancies.
In addition, it has also exchanged contracts on two further properties comprising 65 tenancies for a total consideration of £12.1m.
- New social housing proposals to support former armed forces personnel
- Cheyne Capital to fund £40m housing regeneration programme
- Civitas invests over £500m in social housing
Paul Bridge, chief executive officer at Civitas Housing Advisors (pictured above), said: “We are delighted to have completed our largest deal so far, and to have acquired properties which are of the highest quality, run by focused and operationally robust registered providers.
“For investors, these properties will be immediately income-generating; for tenants, they offer the opportunity to live as independently as possible within their communities.”
All the properties that have been acquired by Civitas are either purpose-built or have been adapted for use as accommodation for tenants with lifelong learning disabilities and other care needs.
Following this news, Civitas recently reported a 10% increase (from £41m to approximately £45m) in its run rate rental income.