Matter Real Estate has announced that its portfolio company, Placefirst, an award-winning developer, owner and operator of high-quality, single-family rental housing (SFR) in the United Kingdom, has secured a £200 million ($249 million) development finance facility from ICG Real Estate.
The loan will be used to fund a mix of direct development, joint venture developments and forward-fund transactions, with an initial drawdown used to fund a portfolio of six assets across the United Kingdom. Alongside equity raised, the facility will be utilized for Placefirst’s business plan to reach 6,500 SFR homes across the United Kingdom in the coming years.
Placefirst, Matter and ICG are committed to delivering high-quality homes in critical U.K. locations, addressing the ongoing housing crisis with sustainable and thriving community-focused developments.
Matter first backed Placefirst in 2016, partnering with the management team to provide funding and the expertise requ
