The impact investing firm raised the capital for a nine-year fund that will acquire over 300 private apartments and rent them at affordable rates to London’s homeless and people at risk of becoming homeless.
The Real Lettings Property Fund 2 raised the $83.7 million from London’s City Hall and Croydon, Lambeth and Westminster districts. Resonance’s first Real Lettings Property Fund raised £57 million and acquired 250 properties with a similar mission.
The firm is looking to close its second fund at £100 million. It is partnering with homelessness charity St Mungo.
