Legal & General secures £150m loan for build-to-rent homes

Legal & General secures £150m loan for build-to-rent homes

Legal & General’s suburban build-to-rent business has secured a £150m five-year revolving credit facility to finance its pipeline of 1,000 suburban build-to-rent homes.

The loan follows Legal & General’s suburban build-to-rent business’ recent announcement with Cala Homes on the exchange of 107 homes at Buckler’s Park, Crowthorne, in the South East of England. This was the first forward funding transaction between the business and major homebuilder Cala, which are both owned by Legal & General Capital.

Legal & General’s suburban build-to-rent homes are designed to reflect new ways of living post-COVID and features that promote health, such as exceptional build quality, home offices for flexible working, and access to more extensive outdoor space.

In line with Legal & General’s wider commitment to sustainability, the suburban build-to-rent platform will target to be operationally carbon net zero from 2030.

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