Intermediate Capital : Hillview Real Estate announces launch of second fund supported by ICG-Longbow senior debt

Hillview Real Estate announces launch of second fund supported by ICG-Longbow senior debt
Confirms GWC in Bristol as first asset

18 April 2018

London - Hillview Real Estate (HRE), the Real Estate division of The Hillview Group (THG), announces the launch of its second fund, Hillview Partners Property Fund II (HPPF II). This follows the £30 million raise and full investment of its first fund last year in multi tenanted regional offices across key cities in the UK.

Working in close collaboration with specialist asset manager ICG-Longbow, HRE has established a committed 'hunting line' of senior debt funding to support the acquisition programme of HPPF II. With a combination of debt and equity capital, HPFF II is targeting acquisitions of over £100 million. ICG-Longbow also provided debt to HPFF I.

Coinciding with the launch of HPPF II, HRE announced its first acquisition for the Fund with the £7.5 million purchase of Great Western Court in Bristol (GWC). The 37,200 sq ft multi-let estate comprises four detached office buildings which will form part of the HPPF II portfolio.

HRE's strategy for HPPF II is to acquire well-located, institutional quality regional offices in markets with proven occupational demand, including value-add opportunities or part-vacant buildings.

David Mortimer, Head of Senior Debt at ICG-Longbow commented:
'We are delighted to continue to support The Hillview Group with senior debt financing for this new acquisition, which we view as a great fit for our mid-market focused lending approach. Our provision of a committed war chest facility offers Hillview certainty of funding for future acquisitions and we look forward to building on our longstanding relationship as they continue to grow their portfolio.'

Nadav Livni, Managing Director of The Hillview Group added:
'The acquisition of GWC and recent launch of HPPF II confirms HRE's long-term investment strategy of achieving capital growth by repositioning well-located properties and implementing proactive asset management initiatives to capture the strong occupational demand. Despite uncertainty surrounding the Brexit process, our first-hand experience of interacting directly with tenants indicates a resilient domestic economy, with strong underlying growth in the core sectors of manufacturing, technology, engineering, pharmaceutical, financial services, aerospace and automotive. Our growing portfolio of regional offices provides flexible accommodation and lease terms to both established, multi-national enterprises and high-growth SMEs providing support services to those core sectors.

-ENDS-

About ICG-Longbow:
ICG-Longbow is the trading name of Intermediate Capital Group PLC's ('ICG') real estate business, and is authorised and regulated by the FCA. ICG-Longbow is an active lender across all real estate in the U.K. with over £3.3bn in assets under management. ICG has €27.4bn of assets under management globally (as at 31 December, 2017); are listed on the London Stock Exchange (ticker symbol: ICP), and regulated in the UK by the Financial Conduct Authority (FCA). Intermediate Capital Group, Inc. is a wholly-owned subsidiary of ICG and is registered as an investment adviser under the U.S. Investment Advisers Act of 1940.

For more information please contact:

Olivia Montgomery, ICG-Longbow
+44 203 201 7508

Seda Ambartsumian, Maitland
+44 207 379 5151

About The Hillview Group:
The Hillview Group (THG) is an independent Merchant Bank and Alternative Asset Manager, with offices in London and New York, targeting long-term investments in the asset-back sectors of commercial real estate, healthcare, leisure, financial services, multi-family and structured lending. Hillview Real Estate (HRE) is a comprehensive asset management platform specialising in commercial property across the UK, with a focus on a total return strategy which is risk-mitigated at sector, asset and occupier levels, providing investors with both wealth preservation and capital growth.

For more information please contact:

Nadav Livni, The Hillview Group,
+44 207 318 8001

Download the press release (PDF)