Student Accommodation Finance

Student Accommodation Finance

London

Curlew Student Trust

Investec Structured Property Finance provided a £47.6m senior debt facility to Curlew Student Trust for 24 month term for the development of a 527-bed Grade-A scheme in Walthamstow. The 24 month term included an 18 month investment loan to allow the client to stabilise the asset.

Glasgow

Balfour Beatty plc

Investec Structured Property Finance provides Balfour Beatty plc with £26m loan facility for Glasgow student accommodation site. Balfour Beatty Plc is a FTSE 250 multinational infrastructure group and the largest construction contractor in the UK, with an annual turnover of £8.4bn, a market cap of £1.8bn and 36,000 employees worldwide. Its main operating business is split between construction services, support services and infrastructure investments.

Cardiff

Fusion Students

Investec Structured Property Finance have provided Fusion Students with a £18m senior debt facility, over a 3.5 year term, to fund the development of a 314 bed student accommodation scheme in Cardiff. The property is in an excellent city centre location a couple of minutes walk to Cardiff University and Cardiff Queen Street station. It will be the closest private student accommodation building to the campus.

Southampton & Cardiff

Knightsbridge/Three Sixty

Investec Structured Property Finance provided Three Sixty Developments with a £57.2m debt facility to finance the development of three student accommodation buildings in Southampton and Cardiff.

London

Curlew Student Trust

Investec Structured Property Finance provided a £47.6m senior debt facility to Curlew Student Trust for 24 month term for the development of a 527-bed Grade-A scheme in Walthamstow. The 24 month term included an 18 month investment loan to allow the client to stabilise the asset. Investec provided the debt which will fund the scheme through to practical completion in July 2017, as well as for a subsequent 18-month investment period.

Mannequin house on Blackhorse Road will open for the 2017/2018 academic year. Curlew is forward-funding the scheme and leading contractor Watkin Jones responsible for the development phase. Manequin house is located on Blackhorse Road, adjacent to both Blackhorse Road underground and overground stations, provided students with access to both the West End and the City in 20 minutes.

Glasgow

Balfour Beatty plc

Investec Structured Property Finance (“SPF”) provided a £26m senior debt facility to Balfour Beatty to assist with the development of a 536-bed student accommodation scheme in Glasgow - the third largest student city outside London with 53,000 full time students. The scheme will be built by Balfour Beatty’s construction arm, and will complete in summer 2017 for the 2017/2018 academic year.

As a contractor, Balfour Beatty has delivered 21,000 student beds in the UK and 28,000 beds globally. However, this is their first stand-alone transaction as a developer and they chose Investec for the funding package, recognising our market-leading reputation as a specialist funder of student accommodation. Our experience in lending in this sector, and to complex Plcs, enabled us to complete our loan documents ahead of schedule.

Cardiff

Fusion Students

Investec Structured Property Finance have provided Fusion Students with a £18m senior debt facility, over a 3.5 year term, to fund the development of a 314 bed student accommodation scheme in Cardiff. The property is in an excellent city centre location a couple of minutes walk to Cardiff University and Cardiff Queen Street station. It will be the closest private student accommodation building to the campus.

The Structured Property Finance team has a strong relationship with Fusion having funded numerous high end residential developments since 1999. This is our third student scheme with them; the previous deals in Bristol and Nottingham were office conversions creating a total of 690 bedrooms. Fusion are renowned for their excellence in design, specification and the highest level of build quality; this deal demonstrates Investec’s continued support of highly regarded, market leading clients.

Southampton & Cardiff

Knightsbridge/Three Sixty

Investec Structured Property Finance provided Three Sixty Developments with a £57.2m debt facility to finance the development of three student accommodation buildings in Southampton and Cardiff. The development at Back of the Walls, Southampton contains 356 rooms, while the second development at St. Mary’s Road, Southampton is valued at £31.3m and comprises 467 rooms. The Cardiff development contains 281 rooms.

All three schemes are complete and fully operational for the 2016/2017 academic year. In total, Investec has provided £130m of debt facilities over eight student accommodation sites across two academic years to Three Sixty Developments - a successful and experienced developer and operator of student accommodation, with an existing portfolio of 6,000 beds. Investec provided stretched senior finance to maximise the client’s equity returns. SPF supported our client with a development facility in a specialist sector where we have detailed knowledge and experience.

Invesec Financier of the Year nominee

2018 Property Week Awards

Shortlisted as Financier of the Year

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