Investec Real Estate (Investec), a UK-focused development and investment lender, has committed over £1 bn (€1.1 bn) of senior finance in the high growth UK purpose-built student accommodation (PBSA) sector.
Since 2011, Investec has supported over 17 clients, including CA Ventures, Scape, Student Roost and Watkin Jones, with the delivery of 22,000 beds across 52 schemes in 23 cities.
The milestone was achieved following the arrangement of a 51-month, £65 mln development loan to Scape, the global PBSA provider, to support the construction of a 693-unit scheme in Leeds, which is due to complete in time for the 2024/2025 academic year. To date, Investec has provided Scape and its partners with over £142 mln of development finance, across five UK schemes.
Mark Bladon, head of Investec Real Estate, commented: ‘Having been one of the first UK lenders back in 2011 to recognise the institutional grade returns that PBSA could generate, we have followed through on our conviction call, becoming the partner of choice to a raft of highly reputable domestic and international investors and developers.’
