ICG provides €100m green loan to Tristan

The real estate division of Intermediate Capital Group (ICG) has completed an £86.8 mln (€100 mln) senior loan secured by Reading International Business Park, a 400,000 sq ft (37,160 m2) office campus in the Thames Valley corridor, UK.

The property was acquired in December 2020 by Episo 5, a fund advised by Tristan Capital Partners.
The transaction is structured as a Green Loan with financial incentives available for meeting defined sustainability targets at the property, including improvements to energy performance and enhancements to social infrastructure. This is the first such Green Loan written by ICG’s Senior Debt strategy.
Reading International was developed in 2000 and 2001 as the European headquarters for Verizon and is now multi-let to occupiers including Accenture and Investec. Tristan Capital intends to refurbish the building to deliver a Grade A specification and improved amenities, suited to all types of occupier.
David Mortimer, head of Senior Debt at ICG Real Estate said; ‘Reading International is already a landmark asset, but Tristan’s plans to invest in the property to deliver a true best-in-class building were particularly compelling.  In today’s market occupiers are rightly demanding sustainable, flexible workspace with high quality amenities for their staff, and we are pleased to be able to support Tristan in delivering a building which will meet this need.’
ICG Real Estate has over €4.9 bn of real estate private equity and private debt assets under management across its four strategies - Senior Debt, Partnership Capital, Development and Sale and Leaseback.


Latest news

Best read stories