Universities Superannuation Scheme to acquire 3,000 shared ownership homes from Blackstone for £405m.

Universities Superannuation Scheme, a pension company, agreed to acquire 3,000 shared ownership homes from Blackstone, an investment group, for £405m ($517m). “By deploying capital to fund the development of new homes, we are proud to have created an institutional-grade portfolio, which, in turn, has attracted more long-term institutional capital into the sector. This transaction will allow us to continue to invest capital into Sage Homes to help to alleviate the structural undersupply of housing across the UK," James Seppala, Blackstone Head of European Real Estate.