Placefirst, an award-winning developer, owner and operator of high quality single-family rental housing (“SFR”), and its investor, Matter Real Estate, has secured a £200m development finance facility from ICG Real Estate.
The loan will be used to fund a mix of direct development, joint venture developments and forward fund transactions with an initial drawdown used to fund a portfolio of six assets across the UK. Alongside equity raised the facility will be utilised for Placefirst’s business plan to reach a total of 6,500 SFR homes across the UK in the coming years.
Placefirst, Matter, and ICG are committed to delivering high-quality homes in critical UK locations, addressing the ongoing housing crisis with sustainable and thriving community-focused developments.
Matter first backed Placefirst in 2016, partnering with the management team to provide funding and the expertise required to achieve scale. With this additional funding from ICG, Placefirst will continue working to meet the demand for excellent SFR housing in the UK.
David Christie, CEO at Matter Real Estate, said: “This marks the start of an exciting partnership with ICG, bringing together aligned values and establishing a shared commitment to creating better homes and communities across the UK. We look forward to working with ICG and Placefirst to consolidate our position in the highly sought-after SFR sector.”
David Mawson, CEO at Placefirst said: “Driven by our commitment to delivering high-quality, sustainable homes in prime locations across the UK, this funding will enable us to scale up our operations and drive sustainable growth.
“As we prepare to welcome 30% more residents to Placefirst homes in 2025 than last year, our new partnership with ICG and continued collaboration with Matter Real Estate will be integral to our expansion plans, ensuring we deliver neighbourhoods that provide long-lasting value for both residents and surrounding communities.”
Jai Patel, Managing Director of ICG Real Estate, said: “ICG Real Estate maintains a high conviction in financing best in class teams that deliver and operate high quality and institutionally managed rental homes. We are delighted to start our partnership with Matter Real Estate and the Placefirst team, as they significantly scale up their platform across multiple UK towns and cities.”