Casa by Moda in £150m funding boost from NatWest

Single-family homes developer and operator Casa by Moda has secured an initial £60m debt facility from NatWest, with the ability to rise to £150m. The agreement will form part of Casa’s funding package and help spearhead the brand’s expansion, supporting the delivery of more than 1,100 rental homes across the UK. The deal follows Casa’s recent acquisition of 223 new homes in Kirkstall, Leeds, from housebuilder Artisan to create its Casa, Abbey Court neighbourhood, and the purchase of 156 homes from CCG Homes to create Casa, Vista Park in Glasgow. Johnny Caddick, chief executive at Moda Living, said: “This new funding package from NatWest is a major milestone in Casa’s growth trajectory. “This year we will welcome our first residents into our neighbourhoods in both Glasgow and Leeds, but we’re also gearing up our programme of delivery, which will see us achieve our aim of securing more than 5,000 new homes by 2025. “As a team, we are passionate about delivering a best-in-class experience that puts service, technology, wellbeing and sustainability at the very forefront of our offer. At the same time, we are committed to creating people-focused, well-connected neighbourhoods in the suburbs of the UK’s major cities that fit in seamlessly and actively enhance their surrounding communities. “Looking forward, we have ambitious plans and are actively seeking new opportunities and partners across the UK; from housebuilders to local authorities and landowners, to deliver the new high-quality, well-managed suburban rental homes that are needed to match the growth in demand.” Charlie Foster, head of real estate at NatWest said: “It is exciting to see our debt facility assist with the provision of new build homes into the Glasgow and Leeds markets, where residents will benefit from Casa’s institutional-quality management.” To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews Casa, Vista Park image courtesy of PR