Triple Point Social Housing £20m portfolio sale falls through after buyer fails to secure funding

Sale was expected to complete this month

Triple Point Social Housing’s (SOHO) £20m proposed portfolio sale has fallen through after the buyer failed to secure funding for the deal.

The buyer, which had already completed their operational due diligence and agreed head of terms for the transaction, will continue to pursue other funding options, the trust said in a stock exchange notice today (21 November). In June, the SOHO board said that it had agreed heads of terms on a portfolio sale at an aggregate value in excess of £20m, with completion expected prior to the release of the interim results in September. However, the date for the expected completion of the deal was moved to November to allow for enough time for the buyer's debt funder to "finalise their proce...