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IFM Investors makes first UK affordable housing sector investment

Source: https://realassets.ipe.com

IFM Investors has entered into the UK social and affordable housing sector with a £60m (€68.6m) investment.The investor-owned fund manager has entered an agreement with residential property group A2Dominion and has issued the amount as a nine-year floating-rate note (FRN) due 2027.IFM said the investment was made by its infrastructure debt team on behalf of two insurance clients from the UK and US, who have global infrastructure debt investment mandates with IFM Investors.The loan is IFM’s first in the social and affordable housing sector and the second FRN to be transacted in the UK housing sector, the $105bn manager said. IFM, which is owned by 27 Australian pension funds, was set up more than 20 years ago.