Royal Bank of Scotland (RBS) has teamed up with HF Developments to invest £20m into Scottish property.
RBS’s Scottish corporate finance team and HF will invest the money through newly formed Wallace Property Investments.
HF, which provides office space to mainly blue-chip companies, has spent £85m on developing property during the last few years, some of which went on the Strathclyde business park.
However, HF has so far sold all its developments to investment funds and hopes that the new venture will allow it to hang on to future investment opportunities.
The £20m funds were arranged by RBS in the form of mezzanine finance, interest rate derivatives, senior debt and equity.