People Moves: Gresham House strengthens its real estate team with two new senior appointments
Press Release -- Gresham House has strengthened its growing Housing division with two senior hires – Narvinder Khossa as Head of Origination and Brandon Holloway as Deputy Fund Manager.
The appointments come amid a period of significant growth for the Housing division, which manages several investment vehicles, including the London Stock Exchange Main Market listed Residential Secure Income plc (ReSI plc), a limited partnership that invests in affordable shared ownership and is aimed at pension fund investors (Gresham House ReSI LP), and the Gresham House BSI Housing Fund.
These funds offer investors access to a range of housing investments, including shared ownership, affordable build-to-rent and independent retirement rental housing. Each fund aims to deliver stable and secured inflation-linked returns, while providing social and environmental benefits to residents, the local community and the wider economy. Last week, ReSI plc announced a 2.7% uplift in its EPRA Net Tangible Assets per share and a 3.1% inflation-linked increase in its annual dividend target.
Narvinder arrives from ilke Homes with more than 23 years' experience of commercial and residential property development in the UK. Over the last 15 years, she has delivered high-quality residential schemes for public and private sector developers and landlords, including Sage Housing, Southern Housing Group and Morris Homes. She will draw from this extensive experience to lead origination across Gresham House's listed and unlisted housing investment vehicles, reporting into Alex Pilato, Managing Director and Head of the Housing division.
Brandon, who has more than a decade of experience in real estate investments and corporate finance, will co-manage ReSI plc and ReSI LP alongside Ben Fry, who is Head of Housing Investments. He joins Gresham House after spending seven years at Singerman Real Estate, where he was focused on retirement housing investments. Brandon is responsible for the strategy implementation, operational oversight and investor reporting of each strategy, as well as overseeing fund deal flows.
The hires follow Gresham House's recent investor update, in which the group stated its intention to double the value of its investments in managed housing assets from £700m to £1.4bn within three years, through existing funds including ReSI plc and ReSI LP, and additional investment through the group's existing build-to-rent platform.
Ben Fry, Head of Housing Investments, Gresham House, says:
"We are thrilled to welcome Narvinder and Brandon onboard at such a critical moment for the UK housing sector. As Britain's affordable housing crisis deepens, demand for affordable housing options to buy, rent or retire in will surge. Narvinder and Brandon's deep sector experience will be paramount to helping meet this demand and provide good quality housing for the countless communities in need throughout the country."
Narvinder Khossa says:
"I am delighted to join Gresham House's experienced Housing division. I share the team's vision to alleviate the shortage of high-quality, affordable housing in the UK. As recognition of the income opportunity in the affordable housing space increases, this will allow us to meaningfully contribute towards this goal."
Brandon Holloway adds:
"Investors are awakening to the many benefits of affordable housing investments, including the near unlimited demand for housing and their inflation-linked nature. I am beyond excited to join this dynamic and accomplished team at such an important stage of the Housing business' growth trajectory, and I am eager to continue growing Gresham House's diverse portfolio, which delivers stable long-term returns for investors."
Source: Press Release