LaSalle Investment Management has provided a £68.7m (€81.8m) green loan to Vita Group to finance the delivery of a new 540-bed UK purpose-built student accommodation scheme.
The 105,000sqft project at Gough Street in Birmingham city centre comprises two tower blocks of 10 and 29 stories, respectively. MRP started construction in 2023, targeting completion in August 2026.
David White, head of real estate debt strategies at LaSalle, said this latest development loan completed by the firm’s debt investments platform maintains “our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe”.
He said: “Our investment in the Gough Street development provides our investors with exposure to a high-quality asset, supported by the strong fundamentals of Birmingham’s structurally undersupplied student market.”
Max Bielby, COO for Vita Group, said: “We’re delighted to be working with trusted partner LaSalle to deliver this best-in-class student accommodation to the heart of Birmingham.
“The delivery of this building is well underway and will raise the standards of what students should and can expect from their accommodation experience in the city centre. We look forward to welcoming students from September 2026.”
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