ICG Real Estate has provided UK property group and urban regeneration specialist Related Argent with a 拢243m (鈧�280m) development loan.
ICG Real Estate, via its real estate debt strategy, has provided the loan for the delivery of a 484 build-to-rent (BTR) scheme in Tottenham Hale, London.
The new BTR homes at 1 and 2 Ferry Island, represent the second and final phase of the 3.5-acre Heart of Hale regeneration project which is owned by Related Argent.
The total development, which is in excess of 拢600m, comprises 1,032 new homes. Final completion is anticipated for the fourth quarter of 2026.
Tom Goodall, managing director of Related Argent, said the capitalisation and start of major construction at 1 and 2 Ferry Island are important milestones to complete the Heart of Hale development, creating a new community and a destination for Tottenham Hale.
鈥淗eart of Hale is evolving into what we believe is one of the most vibrant and best-connected places to live in North London.鈥�
Jai Patel, managing director of ICG Real Estate said: 鈥淟iving remains one of ICG Real Estate鈥檚 long-held high conviction sectors for both our debt and equity strategies.
鈥淭his substantial development loan reflects our ambitions in this sector and enables the delivery of 484 much-needed new homes in the UK capital, alongside new public realm, leisure and retail amenities for the local community.鈥�
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