Triple Point Social Housing REIT (LON:SOHO) is the topic of conversation when Mike Foster, Analyst at Hardman & Co talks to DirectorsTalk. Mike explains what the REIT is, the type of residential assets the company invests in, financials for investors in the REIT, the attributes of the assets, the company reputation, the amount of assets already purchased and Triple Point’s differentiators.
Mike Foster recently published an article entitled UK residential REITs: the start of a journey in the Hardman & Co monthly which you can find here.
The Triple Point Social Housing REIT Plc invests in social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio will typically be subject to inflation-adjusted, long-term (from 20 years to 25 years), Fully Repairing and Insuring (“FRI“) leases with Registered Providers. The portfolio will comprise investments into properties which are already subject to an FRI lease with a Housing Association, Local Authority or other regulated organisation, as well as forward funding of pre-let developments but will not include any direct development or speculative development.
There is increasing political and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group’s ability to provide forward financing for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents and delivering returns to investors.
Triple Point Investment Management LLP (part of the Triple Point Group) is responsible for management of the Group’s portfolio (with such functions having been delegated to it by Langham Hall Fund Management LLP, the Company’s alternative investment fund manager).