Legal & General Investment Management (LGIM) has provided GBP 85 million (US$ 118.14 million) in long-term financing to Believe Housing, a homes provider in North East England. The funding will support Believe Housing’s strategic development goal to deliver over 1,200 new affordable homes over the next five years.

With LGIM Real Assets commitment, Believe Housing will use the funding to refinance existing debt, deliver new homes, and for general corporate purposes including investments in existing homes. The delivery of Believe Housing’s pipeline of new homes will serve the communities in which it operates, as well as play an important role in the UK’s chronically undersupplied social housing sector – socially, economically, and environmentally.