Investec Real Estate has provided Global Student Accommodation (GSA) with a £85m loan to support the refinance and partial refurbishment of five UK PBSA assets.
The properties, which provide 1,460 student beds, are located in London, Lincoln, Newcastle, Nottingham, and Sheffield, and are managed by GSA’s operating partner, Yugo.
Sebastian Walley of Investec Real Estate said: “We will continue to fund PBSA schemes in those cities where the demand dynamics remain compelling, reflecting our conviction in the sector’s long-term outlook due to its structural undersupply, demographic tailwinds and defensive characteristics in this inflationary environment. GSA is a world-renowned player in the PBSA space and we look forward to supporting them on future opportunities.”
John Jacobs, global head of capital markets at GSA, added: “I am delighted to have formed this new relationship with Investec. Completing this refinancing amidst challenging market conditions demonstrates lenders’ confidence in the strength and resilience of the PBSA sector and their continued appetite to support high quality, stable portfolios with experienced owners and operators. I look forward to continuing to work with the Investec team as we implement our growth strategy in the UK.”
