25 Sep, 2023: Single-family homes developer, Casa by Moda has obtained a £150 million funding infusion from NatWest. This financial support will empower Casa by Moda to construct an additional 1100 homes in the UK.
The company has initially secured a £60 million debt facility, with the flexibility to increase it to £150 million. This financial arrangement is aimed at bolstering Casa's endeavours by directly financing the construction of 1,100 units in the "single-family home" sector. In this context, the single-family homes market pertains to the construction of houses rather than apartments, primarily in suburban settings rather than urban areas. This agreement forms an integral component of Casa by Moda's strategy to complete the construction of 5,000 new homes by the year 2025.
Casa by Moda communities provide residents with the opportunity for deposit-free and pet-friendly living, including the choice of extended leases for up to three years. The company integrates ESG (Environmental, Social, and Governance) principles into the planning, construction, and management of its residences, collaborating with home builders to provide eco-friendly housing solutions within purpose-designed neighbourhoods.
The company has also collaborated with proptech firm Utopi to integrate intelligent environmental sensors into its residences. Also with the help of MyCasa app, residents can access real-time data to track various aspects, including room temperature, air quality, and light pollution, thereby allowing comprehensive monitoring.
The app also offers round-the-clock customer service access and the capability to report maintenance issues. It allows residents to schedule home services like dog walking, window cleaning, and gardening as well.
This agreement comes after Casa by Moda's recent purchase of 223 additional residences in Kirkstall, Leeds, from homebuilder Artisan, which will be developed into the Casa Abbey Court community. Additionally, in a groundbreaking move for the Glasgow area, Casa acquired 156 homes from CCG Homes to establish the Casa Vista Park.
Casa by Moda remains committed to setting new standards in home construction, design, and sustainability, ensuring that families across the region have access to the high-quality, comfortable homes they deserve. In securing a significant financial commitment from NatWest, Casa by Moda is poised to expedite the development of single-family homes. This partnership not only underscores the confidence in Casa by Moda's vision but also represents a significant step forward in meeting the growing demand for quality housing.