A European property investment firm spun out of ESO Capital, has invested in an affordable housing provider as part of its UK value-add and opportunistic residential strategy.
Matter has invested an undisclosed amount in Auxesia Homes, a provider of affordable housing based in Cheshire, in a deal which complements its existing investments in affordable housing firms Placefirst and St Arthur Homes.
The real estate firm said property investor Cordia has co-invested in Auxesia alongside Matter. Cordia has teamed up with Matter on a number of deals in recent months including an investment in St Arthur Homes.
Matter said its investment will help Auxesia to scale its portfolio to over 1,300 homes within the next five years.
”Alongside its financial investment, Matter will work closely with Auxesia’s management team to build a best-in-class operating platform and facilitate collaboration with other investee companies, including Placefirst.”
Richard Hunt, director at Matter Real Estate, said: “The deal aligns with our objective of building platforms of scale which have positive societal impact. We are looking forward to working with Auxesia’s exceptional management team in the coming years and are pleased to continue our partnership with Cordia.”
Chris Metcalf, co-founder at Auxesia Homes, said: “We are excited to team up with Matter, as we feel that they truly understand our business and share that passion. With their support, we will be able to scale our platform and address the critical shortage of affordable housing across the North West, Yorkshire and the North Midlands.”
Gábor Futó, founder and majority owner of Cordia, said: “We are excited to be contributing to the growth of the affordable housing sector.
”Our co-investment in Auxesia is an important next step both in our highly successful partnership with Matter Real Estate as well as our international expansion, in which the UK market plays a key role.”
Cordia is also participating in Matter’s Real Asset Fund I which backs developers in the UK and Ireland via structured capital investments.