MERA secures £100m institutional funding line to launch UK real estate joint ventures

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Winslade Park 2

MERA Investment Management has secured a £100m funding line from a US institutional credit fund to support the launch of a new joint ventures platform focused on UK real estate.

The capital will be deployed into development and investment opportunities, providing equity funding for projects where access to capital remains a constraint.

The move reflects growing interest from US institutional investors seeking exposure to UK real estate, as pricing adjustments and market conditions create new entry points.

Data from CoStar shows North American investors accounted for 42% of overseas investment into UK commercial property in the first half of 2025, deploying £8bn. In 2024, US investors deployed a record £13.6bn into the sector.

MERA’s joint ventures platform will target both commercial and residential schemes, alongside selected repositioning opportunities such as office conversions and alternative income-producing assets.

The lender will partner with experienced developers, providing equity investments typically ranging from £5m to £15m per project, with a focus on schemes offering clear value creation and defined exit strategies over a two to three-year timeframe.

The initiative is being led by Chief Investment Officer Antony Iannaccone, who joined MERA in 2025 from Topland Group, where he led the firm’s joint venture strategy. Over his career, he has overseen more than £700m in gross development value through UK joint venture investments.

Antony Iannaccone said:

“Deal flow across the market is strong, but many operators are struggling to secure the preferred equity required to bring projects forward.

At the same time, we are seeing increasing appetite from US investors looking to grow their exposure to UK real estate. With its stable legal framework and depth of liquidity, the UK continues to attract global capital, particularly as pricing adjustments create new opportunities.”

MERA has already completed two joint venture transactions, including a recent partnership with Winslade Park to support a £100m mixed-use development in Exeter.

The scheme includes the final phase of green office space alongside health and leisure facilities and is expected to become one of the first large-scale office developments outside London powered entirely by on-site renewable energy.

MERA, which has previously deployed £125m into secured lending, said it has a further pipeline of joint venture opportunities under consideration.

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