Investec Real Estate has made a £35m (€40.7m) investment in a London student accommodation project.
Investec said it has provided student housing developer Tribe with the loan to fund the construction of a purpose-built student accommodation (PBSA) project in South Bermondsey.
The scheme, Tribe’s first ground-up student development project, will comprise 250 units comprising 137 private ensuite units, 25 studio units and 88 affordable ensuite units.
Laurence Quail, managing director at Tribe, said: “We are delighted to be working with Investec on the delivery of this exciting new scheme, which we’ve carefully designed to best meet the needs of today’s students for well-located, high quality, good value for money accommodation.”
Tribe, which was founded in 2020, is actively growing with in excess of 1,000 further beds already in the pipeline across London, Quail said.
Ian Burdett and Stuart Scott at Investec Real Estate, said: “Student accommodation has been a strong sector for Investec in recent years and we remain bullish on its outlook, especially in London where this latest scheme is well located to benefit from the market’s structural undersupply and continued demand from domestic and international students.
“It’s particularly pleasing to be working with Tribe on their first PBSA scheme, we look forward to leveraging our deep sector expertise to support them with their debut student development project and hopefully working with them again in the future.”
Since the start of 2015, Investec has committed over £850m to the PBSA sector, financing more than 18,500 beds across 50 schemes in 23 university cities.
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