Purpose-built student accommodation (PBSA) operator YourTRIBE has secured a £46.95m senior investment loan from Investec Bank to refinance its newly completed 226-bed scheme in Elephant & Castle.
The facility refinances the existing lender and supports continued investment across YourTRIBE’s platform.
Ian Burdett, from Investec Real Estate, said: “This transaction reflects Investec’s long-standing relationship with the YourTRIBE borrower group and its continued support for the business as it expands across the London PBSA market. The senior investment facility provides YourTRIBE with certainty of execution and helps refinance a high quality, newly completed asset, while supporting the next stage of growth for its platform.
“The scheme is already operational and well located in Elephant & Castle, an area with strong transport links and access to London’s large and diverse student population. Investec continues to back experienced operators delivering professionally managed accommodation in locations with compelling market fundamentals.”
James Rogers, investment director at YourTRIBE, added: “Investec has delivered a facility that aligns perfectly with our capital requirements and growth plans. The Elephant & Castle scheme represents exactly what we aim to deliver; professionally managed, well-located accommodation serving London’s undersupplied student market. We’re pleased to deepen our partnership with a lender that understands the fundamentals of the sector and the opportunity ahead for YourTRIBE.”
