Purpose Built Student Accommodation Investment
Key Information
Loan Amount
£17,300,000
Investment type
Commercial
Asset Class
Purpose Built Student Accommodation
Location
London
Borrower
UK LLP
Our client developed 2 purpose-built student accommodation blocks in Zones 2 & 3 comprising of a total of 146 beds.
Due to a number of unforeseen delays during the build, both schemes were late reaching Practical Completion and consequently missed the start of the academic year.
Under pressure from the development lender, we secured a 5 year loan to refinance the debt. It was structured in a way which allowed sufficient surplus income to be used towards managing and operating the site, which enabled them to fully let, stabilise and maximise the profitability of their assets.
