Longbow Real Estate Capital is to launch a successor fund to invest in UK real estate debt.
A trading update this morning from Intermediate Capital Group, Longbow’s 51% owner, said that it was working on a follow-up fund to Longbow Real Estate Debt Investments II, which raised £242m in September last year.
That fund is understood to be almost fully invested after providing investors with junior or stretched senior debt in a number of deals.
These include the provision of a £32m loan to Nick Leslau and Mike Brown’s Max Property Group to refinance a 420,000 sq ft, five-office portfolio in the South East in May this year.
Longbow is chaired by property fund grandee David Hunter.
bridget.oconnell@estatesgazette.com
