Flint Housing partners with Morgan Stanley Real Estate Investing
Flint Housing is pleased to announce that its existing shareholders have partnered with investment funds managed by Morgan Stanley Real Estate Investing to scale Flint Housing's social housing investment programme.
Flint Housing, a registered provider of social housing, is pleased to announce that its existing shareholders have partnered with investment funds managed by Morgan Stanley Real Estate Investing (“MSREI”) to scale Flint Housing's social housing investment programme.
With MSREI's financial backing, the partnership has significantly expanded its ambition in providing new build, high-quality affordable housing across England, with an intention to increase Flint Housing's investment capacity over the coming years to over £1 billion.
Flint Housing will continue to focus its investment strategy on land-led transactions, forward funding new-build affordable housing schemes within and outside of the s106 framework to help accelerate delivery whilst underpinning sustainable growth for developers, and in particular SME housebuilders. Flint Housing will also look to work with high-quality modular housebuilders to enhance speed of delivery and energy efficiency of new homes.
The core strategy will focus on smaller s106 schemes (~15–50+ s106 home schemes) as well as non-s106 affordable housing developments of up to 100+ homes across the affordable rent, social rent and shared ownership tenures.
Flint Housing will also seek to explore opportunities for partnerships with other registered providers that would support the delivery of more homes and upgrading of existing homes.
“We are delighted to have partnered with MSREI. This partnership will allow us to further accelerate our new-build affordable homes development pipeline and to begin to explore other innovative structures with partners, including local authorities and other registered providers. Our overarching aim remains to work with regional and local authorities in meeting affordable housing objectives and to generate a positive impact for residents through the provision of high-quality homes and attentive management.”
Eugene Schreider, CEO, Flint Housing
“The UK has a well documented need for affordable housing and this is likely to grow further with current cost of living pressures. We look forward to working with the Flint Housing team to provide high quality affordable homes to those who cannot rent or buy in the private market.”
Shamik Narotam, Managing Director, Morgan Stanley Real Estate Investing
About Flint Housing
Flint Housing was founded in 2020 by Stephen Stone (former CEO of Crest Nicholson) and William Rucker (Chair of Lazard UK and former Chair of Crest Nicholson and Quintain) to bring significant institutional capital into the sector to deliver social housing on the scale required and to help address the housing crisis.
Flint Housing brings together a team with a wealth of experience from the housebuilding, housing and financial sectors to provide an avenue for institutional investors to deploy capital in partnership and, through investment, a positive social impact.
The Flint Housing board comprises Sir Peter Dixon, Non-Executive Chair (Chair of Optivo and former Chair of the Housing Corporation), John Knevett, Non-Executive Director (former CCO of A2Dominion), Eugene Schreider, CEO (former Director within Lazard's financial advisory team in London), Stephen Stone and William Rucker.
Flint Housing has commenced deploying capital in England, with a pipeline spanning the Midlands, South East and East of England.
About Morgan Stanley Real Estate Investing
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals.
Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management business of Morgan Stanley. One of the most active property investors in the world for three decades, MSREI employs a patient, disciplined approach through global value-add / opportunistic and regional core real estate investment strategies. With 17 offices throughout the U.S., Europe and Asia, regional teams of dedicated real estate professionals combine a unique global perspective with local presence and significant transaction execution expertise. As of March 31, 2022, MSREI manages over $55 billion of gross real estate assets worldwide on behalf of its clients.
Media enquiries: media@flint-housing.co.uk