St George Community Housing (SGCH) has announced it has expanded its affordable essential worker housing portfolio in partnership with Lighthouse Infrastructure.
Expanding on the original facility, Lighthouse will provide $61 million in funding to SGCH Keys, a registered charity and subsidiary of SGCH Group. The funds will be used to acquire 76 apartments in Parramatta to be rented out to essential workers.
This brings the total funding from Lighthouse to $120 million, following the November 2021 deal where SGCH used $59 million to acquire 85 affordable properties in Westmead for essential workers.
The 76 properties are within the Lennox development, which was completed earlier this year by leading Sydney developer Aoyuan International and builder EQ Constructions. The development is located next to the Parramatta River and is within walking distance from the Parramatta Westfield, train station, tram line, and several bus stops.
SGCH will manage the tenancies.
SGCH is a provider of sustainable, safe, and affordable housing. It was established in 1985.
Lighthouse is an independent, sustainable infrastructure fund manager that combines innovation and experience to deliver high-quality investment outcomes to institutional investors. Following this latest investment, its portfolio of social accommodation assets is valued at over $350 million, with a total of $800 million in funds under management.
The post SGCH and Lighthouse scale up to $120 million investment appeared first on Professional Planner.