Social housing provider Acis Group, who are based in Gainsborough, is to build up to 400 new houses in Notts, Lincs and Yorkshire to help meet the growing demand for affordable homes.
The houses will be built over the next few years following a £30million long term funding deal between Acis Group and M and G Investments.
Simon Hatchman, Acis Group Finance Director, said: “Alongside new bank finance which we have also recently arranged, this deal has helped us to unlock capacity for further growth.
“Acis aims to create opportunities for people to have better lives through the provision of better homes and better services.
“This tranche of long term finance at a competitive rate is a good fit with our broader financial plan, and it will enable us to continue to have a positive impact on the communities we serve.”
Mark Davie, Head of Social Housing, M and G Investments, said: “With 100 affordable homes already in development and a further 300 in the pipeline, Acis continues to provide local people with much needed housing within the community it serves.
“This deal puts Acis on a firm footing to carry out their business plans over the coming years.
“M and G has now invested over £6billion in UK social housing through property transactions, public bonds and private placements and we’re keen to do more.
“Our pension fund clients continue to seek cash flows over the long-term which are secured against residential property.”
For more information about Acis visit www.acisgroup.co.uk.