Havebury Housing Partnership is a charitable registered provider of affordable, social, and shared ownership housing in the United Kingdom. With a strong focus on providing high-quality, energy efficient housing, Havebury Housing Partnership owns and manages approximately 7,000 homes across the East of England.
Macquarie Asset Management’s investment features a minimum 30-year term and a bespoke drawdown and repayment profile tailored to the housing association’s investment needs. The debt financing, which forms part of a broader £210 million package, will enable Havebury Housing Partnership to maintain the quality of its existing portfolio and ensure all homes achieve an Energy Performance Certificate of Level C by 2030, as well as support the development of 250 new homes per year to 2028.
Macquarie Asset Management’s commitment follows an initial £75 million debt investment its private credit platform made in Havebury Housing Partnership in 2017. That investment has been key to ensuring the housing association remains on target to achieve its goal of delivering more than 1,200 new homes between 2017 to 2023.
Gareth Edwards, a senior vice president at Macquarie Asset Management, said: “The pandemic has underlined the importance of quality homes, communities, and neighbourhoods to our wellbeing. The team at Havebury have always understood this and put people at the heart of everything they do. We welcome this opportunity to provide this additional financing so they can continue their important work of delivering quality, safe, and sustainable housing to families.”
Marie McCleary, director of resources at Havebury Housing Partnership, said: “Macquarie is a long-term supporter of ours and we are absolutely delighted to be able to deepen our partnership with them through this new financing agreement. This funding package provides us with the flexibility we need as we seek to deliver on our strategy and increase access to affordable housing in the East of England. We have an exciting development programme already underway, and I am pleased that Macquarie will be there to support us as we continue to grow and invest in our existing homes.”