UK-based ReSI Capital Management, a fund manager of Residential Secure Income, has entered into a new housing investment partnership agreement (HIP) with project development services and funding solutions provider Morgan Sindall Investments Ltd., a unit of construction services Morgan Sindall Group.
The HIP agreement intends to boost the supply of shared ownership homes, enabling more first time purchasers in the UK to establish themselves on the housing ladder.
The partnership forms an exclusive agreement between ReSI Capital Management and Morgan Sindall Investments Ltd. to offer access to a pipeline of institutional quality residential commitment opportunities for its long term capital.
Initially, the HIP will focus on the delivery of 1,500 shared ownership homes with a value of up to 300 million pounds ($387.2 million).