£11.8m – Facility To Acquire 315 Student Accommodation Units In Newcastle upon Tyne (November 2020)
Our clients are seasoned Middle Eastern investors looking to increase their PBSA portfolio. They acquired this asset from a local developer – it comprises 311 self-contained unit plus four further apartments . The property was newly refurbished and a management agreement was in place a with a significant local PBSA operator. A Sharia-Compliant facility was arranged and a new-to-client lender relationship was established.