ICG-Longbow hired Jai Patel as head of development finance to lead the residential-led strategy. The firm also appointed Nicholas Black as a director to lead the asset management of the residential strategy. Patel previously worked at Amro Real Estate Partners, where he was investment director. Black formerly worked at Buro Four, a project management consultancy.
ICG-Longbow, Intermediate Capital Group’s (ICG) real estate division, is pleased to announce the appointment of Jai Patel as Head of Development Finance to spearhead the residential-led strategy. The business has also appointed Nicholas Black, as a Director, to lead the asset management of this growing strategy.
The development strategy offers a flexible approach accommodating dynamic business plans. Its focus is on residential led schemes, with planning both in London and the UK regions. Typical loan sizes range from £25 – £250m. The development strategy is now in its 6th year and is currently enabling over £1.2bn of gross development value.
Jai joins ICG from Amro Real Estate Partners, where he was Investment Director responsible for acquisitions, capital markets and investment underwriting. He previously worked at ICG between 2014 and 2017. Nicholas joins from Buro Four, a project management consultancy where he was a director responsible for the hospitality, leisure and mixed-use sectors.
Jai Patel said, “I am delighted to be re-joining such a fast-growing company. I look forward to supporting the growth ambitions of our partners and scaling the development platform to deliver strong, steady performance for our fund investors.
Nicholas Black said, “This is an exciting time to join ICG, which I consider to be a leader in the development finance market. I Iook forward to working with our clients on the delivery of existing projects and to create new opportunities as we grow our development funding platform.”
Kevin Cooper, Co-Head of ICG-Longbow, said,” We are delighted to welcome Jai and Nick to the team as we continue to build the depth and breadth of our development funding platform. Demand for our offering remains strong among both investors and funding partners. Jai and Nick’s appointments will help us to continue to deliver the service and performance our clients expect.”