The £55m funding package from Royal Bank of Scotland will allow it to re-finance existing loans, enhance home interiors and take forward its prospective developments.
Cairn HA operates across 24 local authority areas in Scotland, particularly in the Central Belt and Highland regions. It has more than 3,500 homes in its portfolio.
More than half – £30m – of the new funding has been earmarked to upgrade 1,200 kitchens and bathrooms, as well as improve the energy-efficiency of 700 homes with renewable energy initiatives and new heating systems designed to reduce fuel poverty.
The remainder will be used to support the construction of more than 600 new homes across the Highlands and Central Belt.
Derek Adam, director of finance and people services at Cairn HA, said: “We are incredibly proud to provide quality, safe and affordable homes throughout Scotland, helping to enhance communities and foster strong relationships with a variety of key stakeholders and partners.
“The funding we have received from Royal Bank of Scotland has helped accelerate our future growth plans as we press ahead with the development of significant new housing schemes across Scotland, creating much-needed affordable housing options. We’re now primed for a strong future with confidence that we can upgrade the homes of our tenants.”
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