Partners Group and Host Student Housing have completed a £100m+ refinancing deal with Cerberus Capital Management.
The refinancing covers four assets: the 301-bed Guildford Plaza co-living scheme; the Magdalen Street purpose-built student accommodation (PBSA) scheme in Colchester, which provides 252 beds; Christchurch Road, Bournemouth (PBSA), which provides 206 beds; and the Castle Street PBSA scheme in Leicester (129 beds).
All the PBSA assets are operated by Host and have been developed by its sister company Tiger Developments.
John Nesbitt, managing director at Host Student Housing, said: “This refinancing reflects the strength of Host’s partnership with Partners Group and the quality of the assets delivered by Tiger Developments. Having previously worked with Cerberus on individual assets within our portfolio, we’re pleased to now extend this partnership through this significant portfolio refinancing.”
Marco Rampin, managing director at Cerberus, added: “This partnership is well aligned with our strategy in partnering with top sponsors on high quality real estate opportunities. We continue to see strong fundamentals in the UK living sector and are excited to support Partners Group and Host on this venture.”
