CBRE Capital Advisors has been appointed to manage a new £100 million fund for the province aimed at providing debt finance for real estate, regeneration, low carbon and infrastructure projects.
The firm has been appointed to run the fund on behalf of the Department of Finance and the Northern Ireland Strategic Investment Board.
“This fund, agreed by the previous Executive, will focus investment in the areas of regeneration, office and low carbon projects to deliver economic growth,” said Permanent Secretary at the Department Hugh Widdis.
“It will play a significant role in supporting private sector investment in key areas of local development over the next decade.”
CBRE will manage the fund for 15 years and will oversee a minimum of two full investment cycles.
“We are delighted to have been appointed as fund manager for this new, forward thinking fund,” said Andrew Antoniades, head of debt investment advisory.
“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.”
Brian Lavery, head of the Belfast CBRE office said: “Belfast is a fantastic city and the Northern Ireland region has so much potential, we are delighted that CBRE can play a key role in developing much needed occupational space that will appeal to national and international occupiers.”
As well as enabling development of traditional real estate asset classes, the fund will also help finance low carbon initiatives.
Edinburgh based advisory firm QMPF will act as strategic partner to CBRE to work on low carbon projects.
“We are delighted to be assisting CBRE and to work on such an important fund that will support transformational change for the region,” said partner Clare Lacey.
“There is significant unharnessed renewable energy potential in the region that we can harness with this support.”