Social Long Income Fund
Social Long Income Fund invests in a portfolio of social real estate and infrastructure assets that seek to provide a secure long-term, inflation correlated income stream and capital growth, whilst generating a positive social impact.
The fund will typically invest either via acquisition or through the construction of real estate assets let on long leases to providers of services such as:
- Supported living
- Extra care (assisted living)
- High complex care
- Social housing
- Shared ownership
- Primary care
Many of the projects in the sector represent relatively small opportunities of substantially less than £50 million. The fund aggregates these smaller projects, seeking to provide investors with a diversified portfolio of high quality assets, let on long dated CPI and RPI linked FRI leases at attractive yields.
The fund has £25 million of subscriptions from some of the largest Local Authority pension funds.
The fund’s first investment was to forward fund the development of 68 supported living apartments across 4 sites located in Shiremore, Leamington Spa, Buxton and Morecambe which have all successfully been completed.
The fund completed the off-market acquisition of Rivington Court in June 2017, a 6 unit support living scheme, let on a 30 year FRI lease with annual upward only CPI rent reviews.
The fund completed the acquisition of a supported living and a high complex care scheme in Hingham in May 2017 on a forward funding basis for circa £4.5 million.
The fund has a pipeline of active opportunities in excess of £25 million and the Manager is confident it can grow this pipeline to match future commitments