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25 Mar 2025

Investec strengthens GSA relationship with £86.5 million PBSA refinancing loan

Facility increases Investec’s exposure to high conviction sector and aligns with strategy to underwrite more large ticket loans. 


Investec Bank plc (Investec), a leading international financial services provider, today announces that its Real Estate team has provided Global Student Accommodation ("GSA"), a leading global player in purpose-built student accommodation ("PBSA"), with an £86.5 million refinancing loan secured against a portfolio of five stabilised PBSA assets in England.

The portfolio comprises 1,460 beds across the popular university cities of London, Nottingham, Newcastle, Sheffield and Lincoln, and is managed by GSA's global operating partner, Yugo. Two of the assets have recently undergone targeted refurbishments to update the bedrooms and communal spaces, catering to the evolving needs of students and supporting their wellbeing during university life.

This transaction is the second between Investec and GSA and reaffirms Investec's long-standing commitment to the PBSA sector, as well as demonstrating the bank’s ability to provide flexible and responsive funding solutions through the cycle.

An early mover in PBSA, since 2011 Investec has delivered over £1.15bn in total PBSA lending. Investec has now supported 24 clients, including Scape, Student Roost and Watkin Jones, with the delivery of over 22,000 beds across 62 schemes in 26 cities.

Sebastian Walley, Investec Real Estate, commented: 

“UK PBSA, where we have a near 15-year lending track record, remains one of our high conviction sectors, and there continues to be strong demand from best-in-class PBSA operators for our tailored financing solutions. Despite economic headwinds, the investment case for UK PBSA remains compelling, driven by global demand for places at our world-renowned higher education institutions.

“This deal further underscores our confidence in the sector’s resilience, whilst aligning with our strategy to increase our lending volumes by writing more large ticket loans.”

John Jacobs, Global Head of Capital Markets at GSA, added: “Investec’s expertise, commitment and focus on supporting high-quality assets and experienced operators make them an ideal partner as we execute our long-term growth strategy. This deal not only reinforces Investec’s position as a leading lender in the PBSA market but also highlights the continued confidence in PBSA as a resilient and attractive asset class.”

 

  • Notes to Editors

    This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

For further information, please contact:

Charles Clarke

Charles Clarke

Head of Business PR
About Investec

Investec Bank plc (‘IBP’) is the banking subsidiary of Investec plc. Investec plc is a FTSE-250 listed company which holds the majority of Investec Group’s non-Southern African businesses under a dual listed company structure. IBP partners with private, institutional and corporate clients, offering banking and investment services in the UK, Europe and US, Continental Europe, Channel Island, India, Switzerland and Ireland.

IBP also offers wealth management services through its strategic partnership with Rathbones Group, the UK’s largest discretionary wealth manager. IBP has operated in the UK since 1992.

As part of the Investec Group, IBP is a purpose-driven organisation, dedicated to its core purpose of creating enduring worth. This means we will always strive to create long-term value for all stakeholders and contribute meaningfully to people, communities and the planet.

Further information can be found at www.investec.com.