International law firm Gowling WLG has advised a wholly owned subsidiary of Triple Point Social Housing REIT plc, TP REIT Propco 2 Limited on the successful signing of a secured £70 million Revolving Credit Facility (RCF) with Lloyds Bank plc.

The floating rate RCF has an initial term of four years, expiring on 20 December 2022 which may be extended by a further two years to 20 December 2024.

Triple Point Group's second debt raise in 2018, the RCF will provide the alternative investment manager with flexible committed capital, at an attractive margin, to help finance the acquisition of supported housing assets from its growing pipeline.

Chris Brierley, Banking and Finance Partner at Gowling WLG, led on the deal for the firm. He said: "We are delighted to have supported Triple Point on this transaction. The RCF will provide Triple Point with flexible committed capital, at an attractive margin, to help finance the acquisition of supported housing assets from its growing pipeline."

Chris was supported on the transaction by a team of real estate specialists lead by Bradley Silver (Director) and Sasha Catcher (Associate) on the finance side.

Ralph Weichelt, investment director at Triple Point Investment Management, added: "I have worked with Chris and his team on our maiden debt raise with MetLife and now also in relation to our second debt raise with one of the UK's largest banks. The first was strategically very important and Chris' experience in private placement financing and the social housing finance sector were a key factor in us achieving our goals. Chris is pragmatic and very solutions driven providing a wider advisory and structuring role working collaboratively to achieve our objectives."

With a particular focus on support housing, Triple Point Social Housing REIT primarily invest in newly developed social housing assets in the UK, helping public and private sector organisations, and supporting UK growth and investment.