A real estate debt vehicle overseen by ICG Real Estate plans to realise and return its capital to shareholders.
ICG-Longbow Senior Secured UK Property Debt Investments said its portfolio has “proved resilient and defensive through the pandemic” but added that “given the current economic backdrop and re-rating of the sector, an orderly realisation is the most prudent option”.
The company said the realisation strategy will not have a specific timeframe during which to dispose of assets and that it will continue to be listed throughout the process.
A date for an EGM on the matter has yet to be set.
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