The UK arm of UAE-based real estate developer Arada has secured a £152 million (€175.3 million) loan from ICG Real Estate to fund a residential development in London.
Mixed-use developer Arada London has secured the loan to fund the acquisition and development of two residential buildings at 100 Avenue Road in Swiss Cottage, north-west London. Construction is already underway at the 0.93-acre site, with completion scheduled for autumn 2028.
The latest deal represents the third transaction between ICG’s real estate credit business and Arada London. ICG previously provided financing to Regal for two London projects prior to its acquisition by Arada.
Source: realassets.ipe.com on the 28th of April