Shawbrook structures eight-figure funding package for ReSI wind-down strategy

Specialist investment manager Gresham House worked with Shawbrook to secure funding for the former’s listed real estate investment trust, Residential Secure Income plc.

Residential Secure Income plc (ReSI) is a real estate investment trust that is implementing a managed wind-down strategy but has historically focused on delivering secure inflation-linked returns from its two preferred residential sub-sectors: shared ownership and independent retirement rentals.

ReSI was looking to secure continued access to working capital to support the business strategy further, and was introduced to Shawbrook by advisor BlueRock.

Michael Woodman, director of structuring for housing at Gresham House, said: “Shawbrook’s team is well known in the fund finance space as a group that understands the priorities and timelines for both fund managers and portfolio support.

“We are grateful to James and the team for moving swiftly to structure a fully bespoke solution that catered for ReSI’s immediate requirements as well as supporting ReSI through its reorganisation.”

James Hill, director of speciality finance at Shawbrook, commented: “Gresham House invests in long-term global themes such as social-impacted real estate including ReSI.

“We are delighted to have supported the group with a suitable and timely refinance facility and look forward to seeing the ongoing investment journey this client takes.”

Shawbrook was supported by Osbourne Clarke for legal services. Gresham House and ReSI were assisted by Burgess Salmon.