South West law firm Stephens Scown LLP has advised social housing provider Coastline Housing on joint working agreements with Legal & General Affordable Homes.
The arrangement, which is expected to deliver an additional 600 homes for social housing purposes each year, will see L&G provide the financial investment.
Coastline Housing will in turn assist in finding new sites for development and managing the completed homes.
New affordable homes already completed and delivered under this initial scheme include 44 properties in Falmouth, which have been made available for locals in the area.
The Stephens Scown team included Laurie Trounce, Jim Gorrod and Tim Walmsley.
Walmsley, a senior associate in the real estate team, said: “The social housing sector is gaining momentum as it works to meet the UK’s housing demands, and our team is delighted to have helped Coastline secure additional investment to benefit the Cornish housing market.”
Law firms Trowers & Hamlins LLP and Gowling WLG acted for Legal & General.