Propifi to Invest £170m into Social Housing Over Next Year
Alternative finance specialists, Propifi Bonds PLC, has cemented its strategic partnerships with fast-growing property developer, Nexus Housing Developments UK, and forward-thinking housing organisation, Social Housing Gateway, to drive continued investment in the affordable housing sector.
Specialists in issuing legally secured first-charge bridging loans to commercial property developers, Propifi is committed to driving the development of the social housing, assisted living and retirement industries throughout the UK.
Since launching the first series of its Senior Secured Bond Program, Propifi has invested tens of millions into the development of affordable housing, while delivering on its promise to provide an 8.1% return to its network of High Net Worth and Sophisticated Investors.
In cementing its strategic partnerships with both Nexus Developments UK and Social Housing Gateway, Propifi now plans to release an additional £170 million for investment in social housing over the next 12 months alone.
Issued in conjunction with the Government’s pledge to build 500K new homes for affordable living, the Gross Development Value (GDV) of sites funded through Propifi is forecast to exceed £500 million.
Here, Nexus Housing Developments UK will lead on the development and refurbishment all acquired sites, which – on completion – will be managed by the Social Housing Gateway team.
With a proven track record of success in working with Local Authorities, the Home Office and wider Government networks, Social Housing Gateway prides itself on delivering a range of good quality, affordable homes, with a customer focused approach to management.
Craig Sheppard, Chief Operating Officer, explained: “Propifi’s lending decisions are made at the Senior Management level and are guided by a “closed bridge” strategy, with a clear focus within the social housing and assisted living sectors.
“Cementing our strategic partnerships with both Nexus Housing Developments UK and Social Housing Gateway will enable us to expediate our investment into the social housing sector – positively impacting the lives of individuals and families in need across the UK through the development and provision of quality, sustainable and affordable housing, while enabling us to provide secure and above average returns for our growing network of High Net Worth and sophisticated investors.”
Headquartered in Coventry UK, Propifi has successfully made all payments due to noteholders in full and on time for each series of notes that have been issued during the lifetime of the Propifi Bonds plc Medium-Term Note Programme.
