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Development finance
The £85m loan from NatWest will replace existing construction debt from Oaktree Capital Management.
The country leads European student accommodation investments, while having the lowest bed provision rate on the continent.
The ‘significant’ capital injection allows Quintain to finalise the latest phase of the 85-acre estate.
Most lenders surveyed by the consultant say they will increase origination this year.
A loan from six banks funded the €880m purchase of offices for a retrofit project without a lease.
The London-based manager was selected to provide the financing because it was able to provide a whole loan.
The borrower acquired 50 Fenchurch Street in 2022 and plans to develop a circa £1bn office tower.
Two domestic managers, Silverton and Pöttinger, have paired up to offer advice in cases where schemes have stalled.
The manager has provided a £143m debt facility for a third later living development by Goldman Sachs-backed Riverstone.
The UK development lender is aiming to incentivise borrowers to bring forward schemes with societal benefits.