Swan Group secures £50m support for affordable homes
Support package: Jamie Davidson and Phil McGinlay
Swan Group, which focuses on delivering affordable homes across the UK, has secured access to a £50m facility that will accelerate its growth.
It has been provided by an institutional funder who is focused on backing real estate businesses occupying niche positions in scalable markets.
Since 2013 Swan Group has been developing homes for its partners which include housing associations and local authorities.
The new capital will help accelerate the development of over 3,000 affordable homes across the UK with an estimated Gross Development Value (GDV) in excess of £420m.
Conduit Finance helped the business switch to a more streamlined capital structure. As part of its support it sourced the investment partner, developed the investment pack and managed the transaction.
Phil McGinlay, Swan Group’s Managing Director said: “Securing this new growth capital facility will allow us to support our partners in housing these families much faster.
“The funding will also help us deliver our strategic growth objectives more quickly.”
Jamie Davidson, managing director at Conduit Finance commented: “We’re proud to be able to assist a business which is having a positive impact on society. We look forward to supporting Swan Group during this next period of growth.”