The Urban Splash Residential Fund (USRF) has secured a £50 million debt facility with Barclays ensuring it can continue its acquisition strategy of design-led homes.
The stake allows USRF to build an institutional-scale portfolio of rental homes in cities across the UK, alongside its investment adviser SURE Capital Partners LLP.
The new Revolving Credit Facility (RCF) replaces the previous £20 million facility secured in 2023.
This announcement follows USRF’s £200 million agreement with sustainable single-family housing developer Citu in December, establishing a strategic partnership under a MoU for an initial 600 homes.
Akeel Malik, fund manager at USRF, said: “We are delighted to continue our recent growth, building on our successful relationship with Barclays and securing an increased revolving credit facility as we expand the portfolio through new and existing partnerships with best-in-class developers.
“The continued support of such a prominent financial institution enables us to further invest in the delivery of much-needed sustainable housing and regeneration across UK regions.”
Jason Constable, head of real estate at Barclays Corporate Banking, added: “We are delighted to expand our support for USRF as the business continues to grow its portfolio of design-led homes across the UK.
“This is yet another example of our strong commitment to the UK housing sector.”
Having raised £150 million of equity from institutional and high net worth investors, today the USRF owns and manages 474 homes.
Malik added: “I am excited about our next stage of growth, and grateful for the continued support of our colleagues, our investors and advisers.”
Gorvins advised the USRF, while Barclays was represented by Osborne Clarke and JLL.
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