Matter Real Estate’s UK single-family rental (SFR) housing platform has secured a £200m (€241m) development finance facility from ICG Real Estate.
Matter Real Estate said the loan secured by Placefirst will finance a combination of direct developments, joint venture developments and forward fund transactions.
The initial drawdown will fund a portfolio of six UK assets Matter Real Estate said, adding that the financing, along with equity, will support Placefirst’s plan to deliver 6,500 SFR homes across the UK in the coming years.
David Christie, CEO at Matter Real Estate, said: “This marks the start of an exciting partnership with ICG, bringing together aligned values and establishing a shared commitment to creating better homes and communities across the UK. We look forward to working with ICG and Placefirst to consolidate our position in the highly sought-after SFR sector.”
David Mawson, CEO at Placefirst, said: “Driven by our commitment to delivering high-quality, sustainable homes in prime locations across the UK, this funding will enable us to scale up our operations and drive sustainable growth.
“As we prepare to welcome 30% more residents to Placefirst homes in 2025 than last year, our new partnership with ICG and continued collaboration with Matter Real Estate will be integral to our expansion plans, ensuring we deliver neighbourhoods that provide long-lasting value for both residents and surrounding communities.”
Jai Patel, managing director of ICG Real Estate, said: “ICG Real Estate maintains a high conviction in financing best-in-class teams that deliver and operate high quality and institutionally managed rental homes.
“We are delighted to start our partnership with Matter Real Estate and the Placefirst team, as they significantly scale up their platform across multiple UK towns and cities.”
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