New fund will partner with affordable housing providers including Step Forward.
The fund manager raised the £250m from 13 institutional investors in a first closing for the CBRE UK Affordable Housing Fund, which is structured as an open-ended UK PAIF.
It is expected that 2,000 properties will be acquired by the fund over the next two years, through forward-funding deals and acquisitions of standing assets. It will invest in a range of different tenures and partner with various housing providers.
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