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The financing for the 585-bed Vita Student project in Madrid is the lender’s first in Spain.
The German listed company is seeking to secure new terms on a bridging facility and bond debt maturing in 2024.
Refinancing risk will drive a further tightening of credit conditions, according to the central bank.
The London-based manager has refinanced Apache Capital Partners’ and Moda’s BTR scheme in Birmingham.
The Spanish firm is aiming to raise more than the €160m it attracted for its debut fund.
Eighty-four percent of respondents to a survey by the organisation expect to increase allocations to credit.
The partnership, Rhize Capital, has provided a €100m loan for two schemes in Italy.
Expectations of 2024 rate cuts are already factored into base lending rates, according to market watchers.
The specialist lender’s 30-month loan will support the delivery of a 790-bed scheme in Nottingham, UK.
Finance will remain scarce for the next two years, while buyers and sellers disagree on values, according to the bank’s latest sentiment survey.