BY PETER APPS
The Good Economy, a firm which acts as social advisors to investors, businesses and government, published the report last Friday.
It examined the work of the real estate investment trust (REIT) over the period between December 2016 and September 2017, producing a summary of its work.
It said the organisation has committed £284m to 19 investors with 10 housing associations, comprising 282 properties. The properties will see services provided for up to 1,820 people.
Paul Bridge, chief executive of Civitas Housing Advisors, said: “We are very pleased to have worked with The Good Economy to publish the first of what will be regular independent social impact reports, covering the investment activities of Civitas and the additional activities in support of charitable organisations such as the national homelessness charity Crisis.”
The largest number of properties Civitas has invested in are in the South West, with at least some of its stock in every region of England and Wales. The report said 71% of Civitas’ properties are in the 40% most deprived local authorities.
The report concluded: “Civitas is committed to delivering the best quality housing and care to residents. It always takes a long-term view of the investment and only invests in properties that are intended to remain as social homes for residents with a significant proportion of investments being made in areas of high deprivation.”
Civitas was admitted to the London Stock Exchange in November 2016, raising £350m in an initial offering. It uses investors’ money to buy-up properties that provide social and supported housing.