Fiera Real Estate’s European debt business has provided a £77 mln (€91 mln) senior investment loan to UK housing provider YourTRIBE to refinance two newly developed student accommodation assets in London.
The loan will finance a 250-bed scheme in South Bermondsey and a 267-bed scheme in Peckham.
The assets will be managed by Project Student, with 35% of the available accommodation being designated as affordable. Both properties are certified as BREAAM Excellent.
Richard Howe, co-head of Fiera’s European real estate debt business, commented: ‘The student accommodation sector continues to be a very resilient asset class that is underpinned by a widening supply vs demand imbalance. This is particularly pronounced in the capital city where the student to bed ratio is in excess of 3.5, among the highest in Britain.
‘We are thus pleased to partner with YourTribe on these newly established student accommodation assets, which promise to deliver an exceptional experience for students and the broader community.’
Howe said that since the launch of Fiera’s inaugural fund and SMA (separately managed account) mandate 12 months ago, the firm has committed over £200 mln into the UK and Iberian markets.
‘Notably, more than 50% of this capital has been allocated to the student accommodation sector, highlighting our conviction to this asset class,’ he said.
James Rogers, investment director at YourTRIBE, commented: ‘Partnering with Fiera Real Estate Debt Strategies underscores our commitment to providing top-tier student accommodation in London.
‘These newly refinanced assets not only meet the pressing demand for quality housing but also exemplify our dedication to enhancing student living experiences through innovation, sustainability, and community engagement.’
