Affordable Housing Finance, part of the government's Housing Finance Corporation, has launched a £208m bond scheme, some of which will fund the delivery of 871 new affordable homes in the North West.
Adactus and Great Places were among 16 housing associations to receive a share of the loan, which will help deliver 4,800 houses nationally.
Adactus will build 311 homes across sites in Clitheroe, Lancaster, Longridge, Manchester, Preston, Ribchester, Southport and Wigan. Great Places will deliver 536 homes in Accrington, Blackburn, Blackpool, Bolton, Clitheroe, Darwen, Great Harwood, Manchester, Oldham, Rochdale, Salford, Whalley and Wigan.
Affordable Housing Finance said its first bond to raise the funding for the schemes was the lowest priced bond in the affordable housing sector's history.
The bond is priced at 3.8%.