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Centrus advises Genesis on landmark M&G Investments financing deal

Centrus Advisors has demonstrated its team’s leading position in the institutional market for residential assets by acting as sole financial advisor to Genesis Housing Association on its recently completed innovative transaction with the M&G Secured Property Income Fund. With a value of £125m, the transaction is the largest of its type and is the Fund’s first investment in residential property.

The transaction involves a sale of 401 properties for £125m and a 35 year operating lease back to Genesis and is in respect of Genesis’ soon-to-be completed Halo development in Stratford. The 401 units will be let by Genesis at market rents; to date 83 have been completed of which all are occupied. The entire development includes over 700 properties housing a mixture of tenants encompassing affordable, market-rented and shared-ownership as well as retail, commercial and leisure space. The development includes a 43 floor residential tower and is located at the main entrance to the Olympic park and close to the Stratford transport hub.