MIM deepens support of the social housing sector in the U.K. to address affordable housing shortage

LONDON--(BUSINESS WIRE)--Aug. 31, 2021-- MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced that it has arranged GBP 122.5 million in loan notes for Triple Point Social Housing REIT plc (Triple Point) (LSE: SOHO) to refinance existing debt and support the future growth of the company. The financing is part of Triple Point’s GBP 195 million private placement program that is linked to sustainability targets.

Triple Point seeks to address the ongoing housing crisis by investing in the U.K. social housing sector, providing sustainable high-quality homes which have been adapted for vulnerable adults with long-term care and support needs including mental health issues, learning disabilities, or physical and sensory impairment.

Annette Bannister, head of European Infrastructure and Project Finance at MetLife Investment Management, said: “We are delighted to have entered into our second debt funding with Triple Point. We value their continued effort to invest in social housing in the U.K., with a particular focus on specialized housing for vulnerable people with care and support needs. This financing shows how we at MetLife Investment Management live our purpose and commit to sustainability in communities all over the world.”

Ralph Weichelt, head of Debt Capital Markets at Triple Point Investment Management, commented: “We are very pleased to have secured a second debt funding with MetLife Investment Management for the Triple Point Social Housing REIT plc. This demonstrates the continued support of MetLife Investment Management to the Triple Point Social Housing REIT plc and is reflective of the operational and financial resilience of the portfolio.”

Find out more in the Financial Times