Nine Ashby homes sold in £18m deal
Hearthstone Investment Management has announced its private equity fund, Hearthstone Residential Fund 1 (HRF1), has bought nine East Midlands homes as part of wider £17.9m deal.
The deal also includes further homes in Exeter (28), Bicester (11), Rugby (9) and Pontefract (24). All the houses are being bought by unnamed national housebuilders.
John Coles, asset manager, Hearthstone Investment Management, said: “This is the largest deal HRF1 has completed to date with a single housebuilder. The purchase of such a significant number of houses across several sites is consistent with the fund’s regional diversification strategy to the different regions across the UK.”
The phased delivery provides HRF1 with a pipeline of approximately five to ten houses per month stretching throughout 2019.
HRF1 wa advised by Womble Bond Dickinson (UK).
