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Residential Investment Fund - WMCA RIF

Sector

Residential Property

Geographic Availability

WMCA geography

Investment Amounts

£1m to £10m

Investment Directors

Nick Oakley
Ed Bradburn
Gerald Gannaway
Andrew Goodbody
Kieren Turner-Owen

Supporting the West Midlands Housing Development

The WMCA Revolving Investment Fund (RIF) launched by the West Midlands Combined Authority is open to residential developers seeking finance from £1m to £10m*. 

The Fund commits capital to eligible developments and regeneration opportunities. The RIF is a £70m revolving fund that was set up after recognising the increasing need in housing creation. 

RIF funding is designed to bring inward investment and meet dwelling needs in the West Midlands Combined Authority region, accelerating site regeneration and supporting strong cities and diverse town centres.


*Investment over this amount will be considered under exceptional circumstances.


Key Features

  • Funding for residential developments located within the West Midlands Combined Authority area.
  • Speculative residential development finance from £1m to £10m*.
  • Funding can be provided by way of Senior Debt, Mezzanine Finance or Equity investment, fully secured where possible at commercial rates.
  • Eligible projects require a minimum of ten units and can include Affordable Housing, Apartments, Houses, Modular Units and Hotels.
  • Maximum repayment term of 4 years.
  • Proposals are looked at on a case by case basis.
  • Terms and fees will apply.

Eligibility

  • Known or referenced developers with a successful and proven track record.
  • Strategic brownfield regeneration sites that are unlikely to be redeveloped in the short term via normal capital markets.
  • All cases are subject to a formal credit approval process.
  • Funding cannot be utilised for Land Banking.