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Housing Today
Trusted media brand of the Chartered Institute of Housing
L&G and Natwest pension fund to build 5,000 later living homes
New £500m joint venture for net zero apartments announced
Legal & General and Natwest Group’s pension fund have formed a joint venture to deliver 5,100 net zero homes for over 65s.
Under the deal announced today, L&G has sold a 50% stake in the first 11 sites developed by its later living development arm Inspired Villages, for more than £150m, valuing the business at over £300m. Natwest Group Pension Trustee Ltd’s (NWPTL) purchase will contribute to a total investment of £500m in developing new homes.
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