The fixed-rate loan, provided by LaSalle Debt Investments, will finance Greystar’s development of a 770-bed student housing asset in Wembley Park, London. The construction of the 20-storey asset is expected to complete in the summer of 2025.
Ben Mowbray, a senior director of investment at Greystar, said: “LaSalle’s green loan facility will help us deliver a substantial, but most importantly sustainable student accommodation asset in Wembley.
“We are committed to ensuring our assets provide a home away from home for students in a time of unprecedented demand without compromising the environment.”
Robert Fay, director of debt investments at LaSalle, said: “We look forward to helping Greystar deliver a best-in-class student product with strong sustainability credentials.”
Fay said the latest loan represents LaSalle’s fourteenth loan facility secured against student accommodation, a “sector we have strong conviction in across our wider European business”.
Fiammetta Granchi, VP of debt investments at LaSalle, said: “This facility with Greystar is fixed rate and does not require syndication, providing enhanced stability to the borrower.
“The loan was structured as a green loan, compliant with the Loan Market Association’s green loan framework and Green Loan Principles. As the drive towards superior environmental performance accelerates, we are committed to supporting our borrowers to deliver high-quality, sustainable accommodation.”
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