Luxury Development Edition Birmingham Secures £127.5 Million Backing From Eldridge\n\nRhea-AI Impact (Low) Rhea-AI Sentiment (Very Positive) Tags <time> 07/21/2025 - 04:00 AM </time> Development loan provided to strategic partners Court Collaboration and Select Property Funding package complements existing project finance from PGIM Edition <location>Birmingham</location> comprises 581 luxury apartments in the heart of the city centre\n\n<location>LONDON</location>--(BUSINESS WIRE)-- Court Collaboration and Select Property, the strategic partners behind Edition Birmingham, one of the city’s most prestigious residential developments, have today announced a <money>£127.5 million</money> loan from Eldridge Real Estate Credit, the real estate investing strategy of Eldridge Capital Management. \n The loan from Eldridge Real Estate Credit follows existing funding for the project provided by PGIM to Court Collaboration. \n Funding will support the construction of the flagship 581-apartment scheme in the heart of <location>Birmingham</location>. The new debt facility provided by Eldridge Real Estate Credit is one of the largest fundings announced this year for a residential development outside <location>London</location>. \n Edition <location>Birmingham</location>, which is being sold and marketed by Select Property, is located off Centenary Square, close to the Library of <location>Birmingham</location> and the <money>£1.2 billion</money> Paradise scheme. It is a short walk away from Colmore Row, the heart of the city’s business district. The development’s one- and two-bed apartments are split between two connected towers of 46 storeys and 15 storeys. \n Midgard has been selected as the contractor on the development, which has already secured over <money>£87 million</money> in revenue through off-plan sales. Phase one is expected to be completed by 2027. \n Edition’s residents will have access to an unmatched range of wellness-led amenities and benefits. Alongside cutting-edge gym and spa facilities, residents will enjoy a 20-metre above-ground swimming pool with an accompanying hydro pool, plunge pool, sauna and steam room. Residents will also be able to relax at a sky lounge complete with private dining experiences on the 44th and 45th floors. \n The development also includes a premium co-working lounge, called The Study, and outdoor co-working space on a 14th-floor garden terrace. Other outdoor amenities include a 9,000 sq ft podium terrace with a cinema screen and a BBQ area that connects the two buildings. \n Eldridge Real Estate Credit invests in real estate credit opportunities throughout the US, <location>UK</location> and <location>Europe</location>, including construction, transitional, and special situation opportunities across the capital structure. The platform has originated over <money><money>$10 billion</money></money> in loans, leveraging an experienced team with a disciplined approach seeking to create long-term value. \n PGIM Real Estate, the real estate business of PGIM, one of the largest investment firms in the world, is also a financial partner to Edition Birmingham via its PRECap series, its flagship European high-yield debt strategy. \nAlex Neale, CEO of Court Collaboration, said: “This funding package from Eldridge, combined with our ongoing support and relationship with PGIM, is an endorsement of the quality of Edition. Our partners recognise that the development brings luxury living to the heart of <location>Birmingham</location> as the city centre benefits from over <money>£1b</money>n of investment over the coming years. With breaking ground expected soon and completion of phase one in 2027, there’s real momentum and excitement building around Edition and what it will bring to Birmingham.” \nAdam Price, CEO of Select Property, said: “I’m really pleased that our partners at Eldridge believe in the inherent investment opportunity Edition provides. <location>Birmingham</location> is on the rise, with significant investment in the city centre and a young and growing population that wants high-quality living in the heart of town. We’ve seen strong appetite from owner-occupiers and investors alike; something reflected in the large number of off-plan sales. All this underlines the prestige of Edition and the fact there is nothing else like it in Birmingham.” \nJohn Cole, Global Head of Real Estate Credit at Eldridge Capital Management, added: “The teams at Court Collaboration and Select Property have consistently demonstrated their ability to deliver and market high-quality, competitive residential offerings. With over <percent>40%</percent> of units already sold, we believe Edition is well-positioned to capitalise on Birmingham’s continued growth, and we look forward to a strong and successful partnership.” \nJesse Bostwick, Executive Director, European High Yield Debt Originations at PGIM Real Estate, commented: “Court Collaboration has proven to be a trusted partner and we’re excited to be working together on this project. Our PRECap strategy provides capital solutions including preferred equity and other flexible structures across the lending spectrum, which enables us to support projects in markets with strong fundamentals and unlock the potential of key central sites.” \n Court Collaboration was advised by Gateley Legal on the legal financing aspects of the transaction and by TRST on debt structuring. \nABOUT COURT COLLABORATION Established in 2010, Court Collaboration is a specialist residential developer based in <location>Birmingham</location>, with a development portfolio and pipeline of over <money>£1 billion</money> of residential real estate developments across the <location>West Midlands</location> and the <location>UK</location>. Court Collaboration is committed to creating transformational developments that support local communities and economies. \nABOUT SELECT PROPERTY With over 20 years experience, Select Property is a global property investment specialist, offering a fully integrated service from consultation to exit strategy. With over <money>£2.8b</money>n in property sold to date and a focus on delivering market-leading returns, we develop, sell, and manage high-performing residential assets tailored to investor and resident needs. Our commitment to vibrant, resident-led communities drives long-term value, and with offices in <location>Manchester</location>, <location>Dubai</location>, <location>Shanghai</location>, and <location>Hong Kong</location>, we provide on-the-ground support to investors worldwide. \nABOUT ELDRIDGE Eldridge is an asset management and insurance holding company with over <money><money>$70 billion</money></money> in assets under management that consists of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Eldridge Capital Management, through its subsidiaries, focuses on four investment strategies – diversified credit, GP solutions, real estate credit, and sports &amp; entertainment. Eldridge Wealth Solutions, an insurance and retirement solutions platform, is comprised of Eldridge’s wholly owned insurance companies, Security Benefit and Everly Life. Eldridge is wholly owned by Eldridge Industries. To learn more, visit <a>www.eldridge.com</a>. \nABOUT PGIM REAL ESTATE PGIM Real Estate is the world’s third-largest real estate investment manager, with <money><money>$210 billion</money></money> in gross assets under management and administration,1 and real estate professionals located in 30+ cities worldwide. Built on our belief that strong performance is fueled by dynamic expertise, our global network of on-the-ground specialists is dedicated to opportunity creation, optimization, and timely capital deployment amid shifting market conditions. \n Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect. \n PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: <a>PRU</a>). For more information visit <a>pgimrealestate.com</a>. \n1As of March 31, 2025. Net AUM is <money><money>$136 billion</money></money> and AUA is <money><money>$47 billion</money></money>. PGIM Real Estate is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions &amp; Investments’ “Largest Real Estate Investment Managers” list published October 2024.

Major Real Estate Deal: £127.5M Backs Birmingham's Premium 581-Unit Tower with £87M Pre-Sales

Court Collaboration and Select Property, developers of Edition Birmingham, secured £127.5 million in funding from Eldridge Real Estate Credit, complementing existing PGIM financing. The £87 million in pre-sales for the 581-apartment luxury tower in Birmingham, UK, highlights strong demand. The project includes high-end amenities and is part of Birmingham’s growing real estate investment.