LONDON, UK: Responsible Housing REIT announced its intention to launch an initial public offering (IPO) and to admit its Ordinary Shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of London Stock Exchange plc.

The Company is seeking to raise up to £250 million by means of a placing, offer for subscription and intermediaries offer of Ordinary Shares.

Responsible Housing REIT investment objective is to generate a consistent and sustainable income-based return from the provision of Supported Housing accommodation assets and aligned sectors.

The Company is dedicated to the expansion of Supported Housing accommodation and aligned sectors in the UK and will acquire and create quality, fit-for-purpose accommodation assets to cater for supported residents across a number of care sectors including adults and young people with learning disabilities, mental health issues, physical disabilities, addiction, those with support needs, those in need of temporary accommodation, the elderly and otherwise vulnerable individuals.

Responsible Housing REIT will be managed by BMO Investment Business Limited (the “AIFM” or the “Investment Manager”), BMO REP Asset Management plc (the “Asset Manager”) and BMO REP Property Management Limited (the “Property Manager”), all part of the group of companies whose parent is BMO Asset Management (Holdings) plc (“BMO”).

Robin Minter Kemp, Chairman of Responsible Housing REIT plc, said: “Responsible Housing REIT offers the opportunity to invest in a much-needed social resource, where demand is on an upward trajectory and yet there is a lack of suitable Supported Housing accommodation to cater for these vulnerable groups. We believe that we can help meet this growing requirement with a leasing model that meets the specific needs of the sector aligned to the aims of the Social Housing Regulator.

“This will be an impact-led strategy, with a peer leading ESG framework, that also offers an attractive dividend underpinned by inflation-linked income supported by sustainable rents.”

Guy Glover, Lead Manager at BMO said: “We have been engaging extensively with stakeholders in the Supported Housing community, including Registered Providers, Care Providers and the Social Housing Regulator, culminating in the Responsible Housing REIT model, which we believe offers a new and compelling proposition for investors.

“While local authorities have a statutory duty to provide for those in need of Supported Housing, the UK faces a shortage of suitable accommodation, underpinning our conviction in a strategy delivering a balance between all stakeholders to create a truly sustainable model.”