Real estate lender Mera Investment Management has launched a dedicated joint ventures department, backed by a £100m finance pipeline from a multi-billion dollar US credit fund.
The lender intends to deploy the funds into real estate development and investment equity opportunities in the UK, where a lack of equity capital is causing some projects to stall.
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The new department will target commercial and residential developments with a solution for UK developers who, the firm said, are “finding it increasingly difficult to ringfence enough capital to reinvest into pipeline development”, citing the rising price of land and the increasingly costly planning process.
The joint ventures department will identify and pursue opportunities such as the repositioning or repurposing of existing assets, including office conversions and within income-generating alternative sectors.
Mera will partner with experienced developers and firms to provide equity investments of £5m to £15m per project, and will typically seek out projects with a two to three-year time horizon and a spread of liquidity and exit strategies.
The new offering is being led by Mera’s chief investment officer Antony Iannaccone, who joined the business in 2025 from Topland Group, where he led the firm’s joint venture strategy and who has overseen more than £700m in gross development value through joint venture investments across the UK real estate market.
Mera, which has deployed £125m into secured loans, will take a sector-agnostic approach, prioritising well-located projects with clear value creation strategies and defined exit routes.
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The lender has already financed two joint venture projects, including its largest deal to date, partnering with Winslade Park (pictured) to support the development of the £100m mixed-use scheme in Exeter.
According to Mera, the project will be the UK’s first large-scale office development outside of London with 100 per cent on-site renewable energy via a seven-acre solar “array”.
“Deal flow across the market is strong but many operators are struggling to find the preferred equity required to bring projects forward,” said Iannaccone. “At the same time, we are seeing growing appetite from US investors looking to increase their exposure to UK real estate.
“With its stable legal and regulatory framework and depth of liquidity, the UK remains one of the most attractive destinations for global property capital, particularly at a time when pricing adjustments have created compelling entry points.”
He added that the new finance pipeline will allow the business to “support our clients with a broader and more flexible range of capital solutions”.
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