ICG-Longbow will provide senior debt financing to support a Hillview Group real estate fund.
The Hillview Partners Property Fund II will use a committed line of senior debt funding from ICG-Longbow to support its acquisitions.
ICG-Longbow previously backed Hillview’s first real estate fund, which raised and invested £30 million in multi-tenanted regional offices in UK cities. Fund II is targeting acquisitions worth over £100 million.
David Mortimer, head of senior debt at ICG-Longbow, said: “Our provision of a committed war chest facility offers Hillview certainty of funding for future acquisitions and we look forward to building on our longstanding relationship as they continue to grow their portfolio.”
The fund also announced its first acquisition with ICG-Longbow support, a £7.5 million purchase of Great Western Court in Bristol.
ICG-Longbow is the real estate arm of Intermediate Capital Group and has £3.3 billion of assets under management, invested in real estate across the UK.