Community Finance | December 1, 2020

Ethical Housing raises £7.5 million for affordable housing in the U.K.

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, December 1 — The Ethical Housing Company snagged £7.5 million ($10 million) from Teesside Pension Fund and Big Society Capital to acquire affordable housing in Teesside, U.K., 250 miles north of London. Sixty percent of renters in the area depend on social benefits.

Ethical, which launched in 2018 with £5 million from impact investor Bridges Fund Management, owns 60 affordable housing properties and is targeting 100 acquisitions per year.