ReSI buys Crest Nicholson London new home stock for shared home debut

Crest Nicholson Totteridge Place

Residential Secure Income (ReSI) has acquired a portfolio of 34 new build homes in Barnet, north London, from Crest Nicholson for £16.5m and announced plans to convert them into shared ownership homes.

ReSI, which became the first publicly listed investment fund to become a registered provider with the Regulator of Social Housing earlier this year, said it will use government grant funding for the conversion and has plans to make further acquisitions from developers and housebuilders after closing its first acquisition in the sector.

Since raising £180m to float on the stock exchange in July last year, ReSI has invested £215m in assembling a portfolio that comprises close to 2,500 residential units across various asset classes.

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