The facility will fund the development of Castle Street, a £145m BTR scheme in Luton.

The project will deliver 414 new apartments with professional on-site management by VervLife.

Construction is underway, with completion expected by December 2027.

The scheme will be delivered by Midgard, JRL’s in-house contracting arm.

“We are delighted to be supporting JRL and HGP on this transformative scheme in Luton,” said Stephen Martin, originator at Investec Real Estate.

•   The Finance Professional Show 2024: The Video
•   Investec grants £27.7m loan to Hillwood for Northamptonshire logistics development
•   Investec completes triple I&L acquisition worth £90m

“This transaction highlights our ability to provide flexible capital to long-standing clients and trusted partners, helping to deliver sustainable housing solutions in undersupplied markets.”

Matthew Beech, investment director at JRL Group added: “Castle Street builds on our track record of delivering large-scale residential and mixed-use projects across the UK.

“With Investec and HGP’s support, we are able to deliver a high-quality BTR scheme that meets local demand for well-designed rental homes.

“Our long-standing relationship with Investec and their continued ability to provide tailored funding solutions that enable us to deliver with confidence.”