ICG Real Estate, the real estate division of global alternative asset manager ICG, has provided Arada London with a £152M loan to fund the acquisition and development of two residential buildings at 100 Avenue Road in Swiss Cottage, north London.

This is the third transaction between ICG’s real estate credit business and Arada London, the UK arm of United Arab Emirates-based real estate developer Arada, after ICG previously provided financing to Regal for two London projects prior to its acquisition last autumn by Arada.

Construction is underway by Arada London at the 0.93-acre site, which has  planning consent for two buildings: a 25-storey tower comprising 172 for-sale units with a concierge, gym, pool, golf simulator and coworking space and a separate five- to seven-storey block comprising 79 affordable homes, all of which will be social rented accommodation, and three ground-floor retail units.

Set to complete in autumn 2028, the project is located in a newly upgraded public square.

Arada acquired London developer Regal last autumn and has fast-tracked its ambition to triple the latter’s 10,000-home pipeline. Arada London CEO Jonathan Seal recently told Bisnow the company continues to see major opportunities in the UK capital and is still buying new sites to build out its pipeline, especially to London’s east and Docklands.

ICG has been active in the UK and Europe over the past 18 months. In 2025, it provided a £200M development loan to Matter Real Estate to fund single-family rental housing across the UK. It also provided a £63M loan to a joint venture involving Elysian Residences and Pension Insurance Corp., financing a retirement community in Henley-on-Thames, marking ICG’s entry into the UK retirement living subsector.

ICG has also deployed capital into specialist infrastructure-like real estate. In 2025, it financed a hyperscale data centre development in east London, backing its thematic focus on digital infrastructure.

In Europe, ICG Real Estate recently held the final close for the second vintage of its ICG Metropolitan Fund II, together with its related vehicles, which received €1.4B of commitments. It brought the total amount raised for the Metropolitan fund series to €2.2B, comprising approximately 100 institutional-quality assets in the European industrial and logistics sector.