CBRE CAPITAL ADVISORS SELECTED TO MANAGE NEW £100M NORTHERN IRELAND INVESTMENT PROJECT
CBRE Capital Advisors has been appointed to manage a new Northern Ireland fund. The £100m fund will provide debt finance for real estate, regeneration, low carbon and infrastructure projects and will be managed on behalf of the Department of Finance and the Northern Ireland Strategic Investment Board.
CBRE has been appointed to 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. 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.
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.
Welcoming the appointment of CBRE, Permanent Secretary, Northern Ireland Department of Finance Hugh Widdis said: “This Fund, agreed by the previous Executive, will focus investment in the areas of regeneration, office and low carbon projects to deliver economic growth. It will play a significant role in supporting private sector investment in key areas of local development over the next decade.”
As well as enabling development of traditional real estate asset classes, the Fund will also fund low carbon initiatives. QMPF will act as strategic partner to CBRE, advising on low carbon projects. Clare Lacey, of QMPF said “We are delighted to be assisting CBRE and to work on such an important fund that will support transformational change for the region. There is significant unharnessed renewable energy potential in the region that we can harness with this support.”