The funding will help the joint venture develop a residential scheme of 31 apartments and four townhouse units, in Finchley, London.
Work is expected to start on the project in July 2017. The investment releases capital utilised to acquire the site.
Hayley Scott, origination and structuring at Investec, said: “Church Walk is a natural scheme for us to support. As illustrated, we are keen to lend on the right projects, and structure our funding to create value for our clients, including large institutions and private equity firms with knowledgeable and credible real estate joint venture partners.”
James Whidborne fund director at Savills IM, said: “We’re very pleased to close out our first deal with Investec, and excited that Epsilon can now progress the project beyond planning. This is an important milestone for our Prime London Residential Development Funds, Church Walk being our eighth scheme in the delivery phase, with four further projects progressing through planning.”
He added: “We now have over 350,000 square feet consented and under construction across the two funds with a combined gross development value of circa £500m.”