Oak Housing teams up with investor Patron Capital
A for-profit housing provider and an institutional investor have launched a joint venture to build affordable housing in London.
Oak Housing and investor Patron Capital are seeking an investment size of between £10m and £20m for shared ownership schemes and homeless accommodation.
The pair are looking to repurpose existing properties, and have already bought the 14,000 sq ft Kings Paget Hotel in Hillingdon for £4m with plans to refurbish it as an affordable housing scheme for public sector partners.
Oak Housing, which registered as a for-profit provider in 2016, saw its profit drop from £57m in 2018 to £16m in 2019.
Patron Capital has around €4.3bn of capital invested in property, corporate operating entities and credit businesses.
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