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Student accommodation
Borrower Fusion Group says the deal represents one of the largest single-lender debt packages for UK PBSA.
CFO Ryan Lee says banks were eager to support the company’s purchase of Livensa from Brookfield.
The green loan will support the development of two city centre tower blocks.
The country leads European student accommodation investments, while having the lowest bed provision rate on the continent.
The manager says the asset class has accounted for more than half of its European lending to date.
Despite a risk-off environment, lenders are ‘having to get their heads around’ operational deals given the uptick in activity in the space.
The JV marks Kayne Anderson’s first foray into the European student housing market.
The joint venture between the Canadian pension plan and the London-based firm will be one of the largest-ever partnerships in the sector in Europe.
The UK-based purpose-built student accommodation lender says the pandemic will have just a temporary impact on the sector’s prospects.
Ali Imraan, the managing director, debt and special situations, at real estate investment manager LaSalle Investment Management, discusses the opportunities Spain offers property debt fund lenders.