Blacklight Capital Partners has secured a £33 mln (€38 mln) senior debt facility from Allied Irish Bank (AIB) to refinance a newly developed PBSA asset in Liverpool.
AIB’s three-year facility replaces a development finance tranche provided by RoundShield as part of a broader debt and equity solution to help fund construction of the asset after Blacklight acquired it as a distressed, part-built site from administrators in July 2022.
The PBSA asset, Limelight, is a 535-bed scheme developed and owned by Blacklight, and managed by Homes for Students. It is located in Liverpool’s Knowledge Quarter near the city centre, University of Liverpool and Liverpool John Moores campuses.
Kieran Redford, relationship director at AIB, said: ‘We are delighted to be able to add Limelight to our portfolio of PBSA schemes across the country. It is very clearly a high-quality asset in a strong student city and is precisely the sort of project we are keen to support. We have been impressed by the quality of the product that Blacklight has created and look forward to working with them on this and future projects.’
A spokesperson for RoundShield said: ‘We look forward to replicating the value-add initiatives Blacklight has identified with Limelight in respect of exciting new pipeline opportunities, and continuing what has to date been a successful partnership.’
