£65.3m – Acquisition of A Prime Zone 1 London property providing Central London Student Accommodation Comprising 313 Rooms (September 2022)
The client agreed to purchase a redundant central London PBSA asset from a charity. The deal had to be completed within a very tight window of opportunity and was completed within a 28-day period. The debt was a short term bridge provided by a lender who worked with the client with a “can do” attitude to meet the incredibly tight time scale. The business plan is to improve the planning consent and to refinance within a 6 to 12 month duration.