Social Housing REIT’s acquisition of a portfolio of senior living assets from Resi Portfolio Holdings, a subsidiary of Residential Secure Income (ReSI), is set to complete tomorrow (16 July).
The £108.3m deal, announced last month, will see Social Housing REIT buy a portfolio of 1,907 senior living rental flats as well as 256 flats with housing managers.
ReSI’s board has now confirmed that conditions for the sale have been satisfied and, subject to admission of the initial consideration shares, completion of the disposal will take place on 16 July 2026.
An aggregate of around 66.1 million newly issued ordinary shares of 0.01p each will be allotted and issued to ReSI Portfolio Holdings.
Living REIT will also take on board the 25 property managers working at ReSI. The deal will increase Social Housing REIT’s gross asset value to £831.4m and its net tangible assets to £471.4m.
In its 2025 results, published in March, Social Housing REIT revealed a 20.9% rise in adjusted earnings per share, driven by an increase in collected rental income, fixed cost of debt and a cut in operational costs.
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