ICG Real Estate provides €280m development loan to Related Argent for 484 home BTR project
Related Argent has agreed to a £243 million (€280 million/$296 million) loan with ICG Real Estate for the delivery of a landmark build-to-rent (BTR) scheme in Tottenham Hale, London, featuring 484 new rental homes. ICG Real Estate provided the construction loan as part of its real estate debt strategy.
The new BTR homes represent the second and final phase of the 3.5-acre Heart of Hale regeneration project which is owned, developed and managed by Related Argent. The total development, which is in excess of £600 million (€693 million/$730 million), comprises 1,032 new homes, including market sale, on-site affordable and BTR housing across seven buildings. The residential accommodation is being delivered alongside new public spaces and squares, leisure and retail facilities. About 417 homes across three buildings have already been delivered, with first residents moving in from July 2022.
Phase two comprises 1 Ferry Island, a 12-story residential tower with 108 ho