LaSalle Investment Management’s fourth European real estate debt fund has provided a £100m (€118.2m) loan to refinance Apollo’s acquisition of a UK purpose-built student accommodation asset.

The LaSalle Real Estate Debt Strategies IV (LREDS IV) fund has provided the finance for Pavilion Court, a fully leased 699-bed asset in Wembley, London.

David White, the head of LaSalle Real Estate Debt Strategies, said: “We are delighted to be able to offer Apollo Global Management a bespoke and creative capital solution to support this acquisition.

“The building is in prime position to attract domestic and international students looking for high-quality, amenity-rich and centrally located accommodation that provide quick access to universities. We look forward to expanding our footprint in this segment of the market.”

Samuele Cappelletti, partner at Apollo, said: “We are pleased to have worked with an institutional party like LaSalle in the financing of this landmark asset for which we continue to see multiple value creation levers to be implemented over the life of our business plan.”

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