REG - Residential Secure - Update to asset management services arrangements

Residential Secure IncomeAnnouncement

01/11/2024 07:15

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RNS Number : 5046K  Residential Secure Income PLC  01 November 2024

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1 November 2024

 

Residential Secure Income plc

("ReSI plc" or the "Company")

 

Update to arrangements for asset management services

 

The Board of ReSI plc (LSE: RESI) notes that Gresham House and Thriving
Investments have launched a new partnership to create a dedicated shared
ownership and affordable housing fund management platform in the UK, as
separately announced this morning
(https://greshamhouse.com/news-media/gresham-house-and-thriving-investments-form-uk-affordable-housing-partnership/)
.

 

This partnership is focused on the management of the private fund Gresham
House Residential Secure Income LP. Under these arrangements, Ben Fry and a
number of the existing housing team at Gresham House will transfer to Thriving
Investments, effective immediately. Ben will continue to serve in his role as
lead fund manager for ReSI plc under secondment to Gresham House for an
initial term of nine months from today.

 

Certain asset management services focused on ReSI Housing Limited, the
Company's wholly-owned Registered Provider of Social Housing, which owns the
Company's shared ownership portfolio, will be provided by Thriving
Investments. The balance of fund management services for ReSI plc, along with
asset management of ReSI plc's retirement portfolio, will continue to be
provided directly by Gresham House.

 

Notably, as a result of these new arrangements, there will be no change to
fund management fees due to Gresham House or its fund management
responsibilities, no impact on residents, no change to the existing portfolio,
and no change to the status of ReSI Housing Limited.

 

The Board expects to send a circular to shareholders in connection with the
previously announced proposal for a managed realisation strategy and return of
capital to shareholders within the next few weeks.

https://greshamhouse.com/news-media/gresham-house-and-thriving-investments-form-uk-affordable-housing-partnership/
(https://greshamhouse.com/news-media/gresham-house-and-thriving-investments-form-uk-affordable-housing-partnership/)
.

- ENDS -

 

LEI: 213800D24WA531LAR763

 

For further information, please contact:

 

 Gresham House Real Estate

 Ben Fry                            +44 (0) 20 7382 0900

 Sandeep Patel

 Peel Hunt LLP

 (Broker & Financial Adviser)       +44 (0) 20 7418 8900

 Luke Simpson

 Huw Jeremy

 KL Communications                  gh@kl-communications.com (mailto:gh@kl-communications.com)

 Charles Gorman                     +44 (0) 20 3882 6644

 Henry Taylor

 

 

About ReSI plc

 

ReSI plc (LSE: RESI) is a real estate investment trust (REIT) focused on
delivering secure, inflation-linked returns with a focus on two residential
sub-sectors in UK residential - independent retirement rentals and shared
ownership - underpinned by an ageing demographic and untapped and strong
demand for affordable home ownership.

 

ReSI plc's purpose is to deliver affordable, high-quality, safe homes with
great customer service and long-term stability of tenure for residents. We
achieve this through meeting demand from housing developers, housing
associations, local authorities, and private developers for long-term
investment partners to accelerate the development of socially and economically
beneficial affordable housing.

 

ReSI plc's subsidiary, ReSI Housing Limited, is registered as a for-profit
Registered Provider of social housing, and so provides a unique proposition to
its housing developer partners, being a long-term private sector landlord
within the social housing regulatory environment. As a Registered Provider,
ReSI Housing can acquire affordable housing subject to s106 planning
restrictions and housing funded by government grant.

 

 

About Gresham House and Gresham House Real Estate

 

Gresham House is an alternative asset manager committed to operating
responsibly and sustainably, taking the long view in delivering sustainable
investment solutions.

 

Gresham House Real Estate offers long-term equity investments into UK housing,
through listed and unlisted housing investment vehicles, each focused on
addressing different areas of the affordable housing problem. Each fund aims
to deliver stable and secure inflation-linked returns whilst providing social
and environmental benefits to its residents, the local community, and the
wider economy.

 

Further information on ReSI plc is available at www.resi-reit.com
(http://www.resi-reit.com) , and further information on Gresham House is
available at www.greshamhouse.com (http://www.greshamhouse.com)

 

 

 

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