Aviva Investors has completed a private placement which will see it provide £50m in funding to Hightown Housing Association.
The investment — made on behalf of Aviva UK Life annuity business — will enable the association to continue delivering new, energy-efficient and affordable housing for rent, rent to buy, shared ownership and purchase across Hertfordshire, Buckinghamshire, and Berkshire.
The association is currently aiming to provide more than 1,000 new homes over the next two years, including its flagship development of 158 homes and three commercial units in Hemel Hempstead which is due to complete in April 2024.
Munawer Shafi, head of structured and private debt at Aviva Investors, said: “We are very pleased to have completed this investment with Hightown and to support its provision of additional affordable and energy-efficient homes across multiple counties.
“With a well-invested stock of existing homes and Hightown’s focus on tackling homelessness, this was an excellent opportunity to commence a relationship and support a dynamic and fast-growing association.”
