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Homes acquired from Brick By Brick, the development company set up by Croydon Council Residential Secure Income plc ( ReSI ) (LSE: RESI), which invests in affordable shared ownership, retirement and local authority housing, has exchanged contracts for £29 million to acquire up to 85 newly completed homes for delivery as shared ownership. The properties are being acquired from Brick By Brick, the housing development company set up to deliver a large programme of high quality and affordable homes for local people across the London Borough of Croydon. The transaction will allow Brick By Brick to offer these homes as shared ownership, accelerating the delivery of much-needed affordable homes and returning the proceeds of the sale to the London Borough of Croydon to be spent on frontline services. The homes will be held by ReSI s wholly owned registered provider of social housing, ReSI Housing, and part financed by government grant.