Cordia places greater emphasis on U.K. market in int'l expansion
The Gothic by Cordia Blackswan in Birmingham.
Real estate developer Cordia, member of the Futureal Group, made a number of investments in the U.K. market's affordable housing sector recently, strengthening the company's presence in the international market, according to a press release sent to the Budapest Business Journal.
In collaboration with its local strategic partner Matter Real Estate, the company has invested in Auxesia Homes, a registered provider of affordable housing, under the governance of the Regulator of Social Housing. Auxesia provides new, affordable homes to current and former military personnel, NHS, and emergency service workers and works closely with housebuilders and local authorities to deliver high-quality and affordable housing across the North of England.
Shortly before the Auxesia transaction, Cordia and Matter jointly invested in St. Arthur Homes, which is also active in the regulated housing sector. Cordia is also participating in Matter’s Real Asset Fund, which backs developers in the United Kingdom and Ireland with structured capital investments.
"We are very proud to be able to contribute to the development of one of the specific segments of the U.K. housing market, which provides affordable housing for public sector workers. Our co-investment in Auxesia is an important next step both in our cooperation with Matter Real Estate and in our international expansion. We hope that the experience gained in the U.K. can be applied to the domestic market as well," said Gábor Futó, founder and majority owner of Cordia.
"Our cooperation with Matter Real Estate and portfolio and planned investments of Blackswan Property have enabled us to contribute to the future development of many new homes in the United Kingdom. We are also constantly looking for further investment opportunities in both the UK and other international markets," said Tibor Földi, chairman of the board of Cordia.
Cordia announced its joint deals with Matter after Cordia Blackswan, which was acquired and rebranded last year, began selling the exclusive apartments it is developing as part of The Gothic project in Birmingham's historic district last month. Cordia Blackswan is also working on other residential, commercial and office projects in the Jewellery Quarter, including the redevelopment of the former Lloyd's bank building.
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