Macquarie-backed IDA sets up $150m credit warehouse

IDA, a specialist real estate private credit and investment manager backed by Macquarie Asset Management, has established a $150 million senior credit warehouse to support investments.

UBS has provided the senior financing to the facility.

IDA is backed by Macquarie Asset Management via its Macquarie Real Estate Partners (MREP) fund.

IDA partner and chief financial officer Jeremy Urbach said the new facility will enhance IDA's flexibility to continue originating and underwriting quality senior credit facilities.

He added it will strengthen the financial infrastructure of the business and enhance the underlying quality and architecture of products for private wholesale investment clients by enabling optimised portfolio construction and diversification.

"Securing support from another global financial institution demonstrates the strength and quality of IDA's platform and our origination, execution and management processes," Urbach said.

IDA recently appointed Jeremy Townend as its national head of property finance, Anthony Greig as head of funds management and Shane Boyce as the Queensland state director of property finance.

It said the appointments reflect the increased depth, breath and flexibility of its financing capabilities with substantial investment in its private credit origination and management teams over the past 18 months.

When investing in IDA in late 2024, Macquarie Asset Management head of real estate Asia Pacific James Kemp said IDA is well positioned to grow its platform and capitalise on the increasing demand for flexible development financing solutions while offering compelling investment opportunities for its clients.

"IDA's long standing track record demonstrates the management team's ability to price and manage risk through cycles," Kemp said.

IDA has around 16 years of experience as a capital partner in real estate projects with aggregate end values exceeding $6 billion.