Ingenious Real Estate targets net zero developments
Flush with a new £35 million ($46 million) loan facility, Ingenious Real Estate is aiming for net-zero developments to account for 25% of its portfolio by December 2022.
The UK investment manager, part of the Ingenious Group, secured a new £35 million revolving credit facility from Shawbrook Bank to originate sustainable opportunities.
Ingenious RE recently provided a £19 million loan to developer Citu to support the development of the Climate Innovation District (pictured) in Leeds city centre – the UK’s first low carbon urban neighbourhood. More than 800 homes will be built in four phases using a timber-framed system designed to reduce carbon emissions at each stage of development.
Founded in 2014, the group provides debt and equity capital to mid-market developers in the UK residential, commercial and mixed-use sectors. To date, its team has provided loans worth £500 million.