16 November 2017
Reporter: Theo Andrew

CBRE Capital Advisors chosen for £100 million fund

CBRE Capital Advisors has been selected to manage a £100 million fund on behalf of the Department of Finance and the Northern Ireland Strategic Investment Board.

The Northern Ireland fund will provide debt finance for real estate, regeneration, low carbon and infrastructure projects. It has been appointed on a 15 year mandate.

According to CBRE Capital Advisors, the firm is obliged to match the private sector leverage of the fund, meaning the £100 million fund will “support at least £200 million of investment into the local economy”.

The Executive of the Northern Ireland Strategic Investment Board allocated the funding as part of its 2016 and 2017 budget. The funding will be provided in three payments, with the initial tranche to be disbursed in January 2018.

Andrew Antoniades, head of debt investment advisory at CBRE, said: “It is great to see key regional markets taking charge of development. By instigating capital projects, Northern Ireland will be able to deliver wider socio-economic benefits as well as generating income that can be recycled back into the fund. We are already in discussion with a number of developers to build a successful pipeline.”

Hugh Widdis, permanent secretary of the Northern Ireland Department of Finance, said: “This fund, agreed by the previous executive, will focus investment in the areas of regeneration, office and low carbon projects to deliver economic growth. It will play a significant role in supporting private sector investment in key areas of local development over the next decade.”

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