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Fund geography
The National Homelessness Property Fund (NHPF) makes investments in residential property in targeted locations around the United Kingdom in order to house individuals and families who are at risk of becoming homeless.
The Fund was launched by Resonance, in partnership with leading homelessness charity St. Mungo’s, to invest directly in residential property in targeted locations around the UK, excluding London, in order to house individuals and families who are at risk of becoming homeless.
INVESTMENT APPROACH – (1) Build institutional quality private rented sector portfolio with significant impact on homelessness, (2) Purchasing properties with C3 classification for exit valuation
STRATEGY – (1) Closed-ended real estate fund for institutional and HNW investors, (2) More diversified portfolio than traditional residential property fund due to single unit acquisition strategy, (3) Delivering commercial risk-adjusted return through yield and capital appreciation, backed by 5 year leases on all properties to Charity Partners (including St. Mungo’s)
RESIDENTIAL PROPERTY EXPERIENCE – (1) The award winning Real Lettings Property Fund in London has successfully built a portfolio of 260 properties around Greater London. (2) Winner of RESI “Newcomer of the Year” from Property Week and Winner of MIPIM “PRS Initiative of the Year” from Estates Gazette
Financial description
To build a residential property portfolio within the UK in order to provide a cash yield to investors of c 3% with a total IRR of c 6% over the 7 year life of the fund
9 years
of track record
2015
the year funded
60,000,000 GBP
AUM
Interested in this fund?
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Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Resonance
Headquarters location: United Kingdom
Other funds managed by this asset manager: Real Lettings Property Fund
Impact Category
Key performance indicators
Fund overview
Asset manager: Resonance
Product track record: Fund has 9 years of track record
Target IRR: 6%
Committed Capital: 30,000,000 GBP (Pound Sterling)
Target return category: Risk-adjusted market-rate of return
Fund domicile:
Product status: Open - post first close
Style/Stage: Core
Inception year: 2015
Vintage year: 2015
Target region: Global
Target close date: 01/10/2016
Product term: 7 year fund
Assets under management: 60,000,000 GBP (Pound Sterling)
Investment size: Min: 160,000; Max: 160,000; Avg: 160,000
Co-investment policy:
Currency of investments: GBP (Pound Sterling)
Currency for fund / product figures: GBP (Pound Sterling)
Fund investments to date: 6
Fund investments to date exited or repaid: 0
Management fee: 1%
Carried interest: 5%
Hurdle rate: 5%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: Big Society Capital, Bristol Council, Oxford Council, Milton Keynes Council
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors
Contact
E-mail: n.a.
Website: http://resonance.ltd.uk
Phone number: 7508910263.00
If you wish to have your details removed from this database please email gdpr@impactyield.com
John Williams
Senior Investment Manager
Simon Chisholm
Investment Director
Impact Performance
n.a.
Impact thesis
At its simplest, NHPF achieves impact by moving homeless people into properties, supporting them as they make the transition, and then enabling them to move-on to other stable homes. NHPF seeks to have a positive impact on the lives of individuals in three key areas:
• Improving housing opportunities
• Progressing towards work
• Improving resilience against homelessness
Measures for assessing progress in each of these areas were developed jointly by Resonance and St Mungo’s/Real Lettings from an early stage, based on the underlying motivations of the project, and have been the subject of ongoing discussions between the partners since then.
Impact Management
n.a.