First Social Housing REIT Set To Launch

A new company is set to take advantage of the government’s attempt to open up tax-efficient property investment vehicles in the affordable housing sector by launching the first social housing real estate investment trust.  Single Access Funding plans to launch its REIT in September, shortly after legislation easing entry into the market is due to be approved.  SAF has targeted £500 million of institutional investment and will go on a ‘roadshow’ to raise funds next month. Phil Shanks, co-founder of SAF, said he hoped to have between £200 million and £300 million of funding in place by September.  The money will be used to finance up to 4,000 new social homes, initially extra care and supported housing.  Read more on Inside Housing.