CBRE

Northern Ireland Investment Fund lends £20m for Belfast redevelopment



The Northern Ireland Investment Fund has provided a £20m senior debt facility to Oakland (FRO) Limited to fund the redevelopment of Merchant Square in central Belfast.

This is the first loan awarded by the fund and will finance the redevelopment and extension of existing offices in Belfast and will provide 202,740 sq ft of Grade-A office accommodation with ground floor retail space.

Andrew Antoniades, senior director at CBRE Capital Advisors, said: “We are excited to be getting the fund off to a fantastic start, well ahead of forecast.”

The £100m fund – which is managed by CBRE’s investment advisory team, part of CBRE Capital Advisors – was launched in November 2017 and provides debt finance for real estate, regeneration, low-carbon and infrastructure projects.

“Making such a significant investment is a statement showing what the fund is about: supporting regional growth while delivering exceptional leverage, outputs and returns for the fund,” Andrew added.

“We are well progressed with other exciting schemes within and outside Belfast and remain very much open for more applications.”


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