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IFM Investors issues £60M floating-rate note to UK residential property group

Investor-owned fund manager IFM Investors agreed to issue a £60 million nine-year floating-rate note to residential property group A2Dominion Housing Group Ltd., marking its entry into the U.K. social and affordable housing sector, IPE Real Assets reported.

The investment was made by its infrastructure debt team on behalf of two insurance clients from the U.K. and U.S., the publication noted, citing IFM.

The property group expects to use the financing in part to fund the further development of mixed-use housing to add to its social and affordable housing portfolio.