Real Estate

ICG Real Estate

ICG Real Estate
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ICG Real Estate is a high conviction, thematic capital solutions provider for best-in-class real estate businesses and assets.

 

We have long-standing, through-cycle expertise investing across the capital structure and aim to be a market leader in European liquidity and income focused strategies.

 

The ICG Real Estate advantage

We aim to differentiate our approach, coupling corporate and hard asset expertise with a partnership mentality to build best in class scalable real estate businesses.

  • We are capital solutions providers, partnering with corporates and other sellers to unlock liquidity
  • We have established sourcing channels, generally off market via corporates and other special situations
  • We aim to excel in complexity – our sourcing, structuring and execution skills can result in significant day one value for our investors
3D illustration of ICG momentum

ICG Real Estate at a glance

€9.8bn

Total assets under management (AUM)

(31 December 2025)

14

Year track record

(30 September 2025)

€13.9bn

Capital deployed1

(30 September 2025)

€7.9bn

Realised value2

(30 September 2025)

(1) ICG Real Estate capital deployed = Total investment cost / gross loan commitment since inception. (2) ICG Real Estate realised value = Inclusive of realised income return and capital returned.

Leadership

ICG Real Estate's ~50 investment professionals are located in London, Paris, Frankfurt and New York. Its dedicated teams span Asset Management, Construction and Capital Markets.

Krysto Nikolic

Global Head of Real Estate

Krysto Nikolic is a Senior Managing Director and Global Head of Real Estate at ICG.
View Biography
Krysto Nikolic

Credit strategies

A pioneer in Real Estate Debt with speciality focus on the mid-market


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RED

RED

A secured credit strategy aiming to provide flexible and tailored senior and whole‐loan solutions to real estate sponsors and corporates

Thematic driven, pan-European whole and development loan strategy, primarily focused on investments supporting digitisation, urbanisation and the green transition across the UK, France and Germany.

Watch ICG Real Estate Debt Video
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Living

Living

Dedicated housing finance team with £1.9bn deployed into residential across over 14,000 units.

Focused on urbanisation which offers structural tailwinds and strong inflation protection, with urban populations projected to increase 1.85x in European cities by 2050 (Source: World Bank, 2023).

Core-Plus and Opportunistic strategies

A leading European net lease investor, acquiring or providing growth capital to high‐quality, mission-critical assets, portfolios and platforms


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Metropolitan

Metropolitan

Opportunistic real estate equity thematic investments in high-quality assets at attractive pricing.

Focused on European logistics, where Metropolitan's competitive edge lies in accessing high quality warehouse assets at a material discount to market through proprietary, non-traditional channels and below the radar of our competitors.

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Strategic Real Estate

Strategic Real Estate

Acquires high quality European real estate, primarily through sale-leaseback transactions.

Pan-European strategy targeting operationally critical real estate in strong occupational markets. Focused on three high conviction sectors:

  • Industrial/logistics
  • Grocery
  • Social infrastructure

ICG Real Estate in the news

How the team and its work is being covered by the news media

21 women who will shape the future of UK Real Estate

Isobel Dench, Managing Director at ICG Real Estate, was named by Bisnow as one of 21 women who will shape the future of UK Real Estate.

BisNow
Isobel Dench

ICG closes second Metropolitan opportunity fund with €1.4bn

PERE's Charlotte D'Souza reports that 'the vehicle is more than five times the size of its predecessor, and will be invested in triple-net lease industrial and logistics assets across Western Europe'

PERE
A Large distribution warehouse with gates for loading goods

Twenty Most Influential in Real Estate 2026

Krysto Nikolic, Global Head of ICG Real Estate, was named as one of twenty ‘Most Influential in Real Estate 2026’ by Private Equity News.

Private Equity News
Krysto Nikolic

Commercial Real Estate Debt Manager of the Year

For a third consecutive year, ICG was awarded 'Commercial Real Estate Debt Manager of the Year' at the 2025 Professional Pensions Awards.

Professional Pensions Awards 2025

ICG Real Estate sells €138m Austrian asset back to former owner

"This sale affirms our core thesis of value creation through sourcing of mission-critical real estate and the engineering of innovative solutions for corporate occupiers," says Krysto Nikolic, Global Head of ICG Real Estate.

Green Street News
Krysto Nikolic

ICG Real Estate acquires £137m UK retail park portfolio from M7

"This transaction underscores our ability to acquire prime portfolios at attractive pricing," says Chris Nichols, Managing Director at ICG Real Estate.

IPE Real Assets
Chris Nichols

The New Paradigm of Real Estate Debt in Europe

Jai Patel, Managing Director at ICG Real Estate, contributes exclusive insights.

GRI Institute
Jai Patel

Real Estate Capital Europe’s Active Lenders

ICG Real Estate features in Real Estate Capital Europe’s Active Lenders list, a four-part guide to the finance providers making their mark in Europe.

Real Estate Capital Europe

“As global megatrends around urbanisation and digitalisation accelerate, real estate markets are being reshaped in ways that present compelling opportunities for alternative lenders.”

David Mortimer

Managing Director, ICG Real Estate

Digitalisation and European Debt Investing
David Mortimer

ICG Real Estate agrees to acquire €200m European grocery store portfolio from Lidl

Sale-and-leaseback includes 17 UK stores, four Irish and three Spanish

CoStar

Global breadth, local knowledge

ICG Real Estate’s dedicated, vertically integrated global team has a local presence in cities in Western Europe and North America.

ICG’s global footprint
ICG New York
Boardroom in ICG New York office

Introducing the Real Estate Debt team

Four members of the RED team take a look at current trends in the European real estate debt market, including urbanisation, digitalisation and sustainability.

Watch the full films, summarised in this short video, in the ICG Client Lounge.

Real Estate in the ICG Client Lounge

Find out more about mission-critical assets strategies within our digital hub for clients and consultants.

Explore
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Get in touch

To find out more about our flexible solutions for both providers and users of capital, please contact us.

Contact us

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