UK | Social Infrastructure

Renaissance

Equitix Renaissance IV LP is a portfolio of 77 residential real estate properties situated across England, occupied by residents with disabilities who require a specialist supported living regime.

Revenue was secured by 25-year full repairing and insuring leases to First Priority Housing Association (FPHA). This rental income is supported by housing benefit payments to the registered provider for qualifying tenants.

FPHA pays rent and sources care services for its tenants through nomination agreements with care providers and local authorities.

It should be noted that FPHA signed a company voluntary arrangement in 2018 and income is now directly linked to the leases in place with tenants and housing benefit payments. The fund holds void risk, unless it is covered by void insurance or nomination agreements with care operators. The management and facilities management is undertaken by MYSHON, a specialist management group for FPHA. Equitix owns 100% of the investment.