Key Takeaways
- • CBRE Investment Management has renamed its for-profit social housing provider from AHF FPRP Limited to Clara Homes, following completion of registration.
- • The for-profit provider was formally registered with the Regulator of Social Housing on 3 September, according to the source article.
- • The move is intended to give CBRE Investment Management more flexibility to access social housing grant and accelerate development.
- • CBRE's affordable housing fund owns 3,200 homes (70% operational, 30% in development) and has allocated around £700m of capital since launching eight years ago.
- • Steven Dennis, former chief executive of Saxon Weald housing association, will chair the provider; Jamie Ratcliff, chair of the Housing Forum, will sit on the board.
Summary
CBRE Investment Management has completed the registration of a for-profit social housing provider that was initially known as AHF FPRP Limited, which will now trade as Clara Homes. A spokesperson for the CBRE UK Affordable Housing Fund said the name change does not alter the organisation's purpose, governance or commitment to delivering high-quality, affordable and sustainable housing. The spokesperson said the name was chosen to reflect the aim of turning houses into high-quality homes, building strong communities and creating a positive resident experience.
The structural rationale is access to funding. According to the source article, the for-profit provider is intended to give CBRE Investment Management more flexibility to access social housing grant, with the stated goal of accelerating development. The provider was formally registered with the Regulator of Social Housing on 3 September.
Governance has been set with an experienced sector figure at the helm. Steven Dennis, former chief executive of Saxon Weald housing association, will chair the provider. Jamie Ratcliff, chair of the Housing Forum, will also sit on the board.
The vehicle sits alongside CBRE Investment Management's existing affordable housing fund, which owns 3,200 homes, 70% of them operational and 30% in development. The fund has allocated around £700m of capital since it launched eight years ago.
The structural rationale is access to funding. According to the source article, the for-profit provider is intended to give CBRE Investment Management more flexibility to access social housing grant, with the stated goal of accelerating development. The provider was formally registered with the Regulator of Social Housing on 3 September.
Governance has been set with an experienced sector figure at the helm. Steven Dennis, former chief executive of Saxon Weald housing association, will chair the provider. Jamie Ratcliff, chair of the Housing Forum, will also sit on the board.
The vehicle sits alongside CBRE Investment Management's existing affordable housing fund, which owns 3,200 homes, 70% of them operational and 30% in development. The fund has allocated around £700m of capital since it launched eight years ago.
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