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BlackRock closes €114M social housing debt investment

BlackRock Inc.'s BlackRock Real Assets is funding Scotland's largest housing, care and property management group through a €114 million debt investment, Property Magazine International reported.

According to the report, Wheatley Housing Group will use the debt financing in part to build roughly 3,500 fresh social and mid-market rented houses in Scotland.

This marks BlackRock's second investment in the U.K. social housing sector, as back in January it closed a debt investment offering long-term financing to Trafford Housing Trust in Manchester, England.