ICG Real Estate has provided UK property group and urban regeneration specialist Related Argent with a £243m (€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 £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.
“Heart of Hale is evolving into what we believe is one of the most vibrant and best-connected places to live in North London.”
Jai Patel, managing director of ICG Real Estate said: “Living remains one of ICG Real Estate’s long-held high conviction sectors for both our debt and equity strategies.
“This 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.”
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