LaSalle IM finances student housing scheme

LaSalle Investment Management is providing a £100 mln (€117 mln) loan to Urbanest UK to finance a student housing-led scheme in central London.

The loan will be the first to be made by LaSalle Residential Finance I (LRF I), launched last month, and will provide a whole loan facility to finance the development of 199 Westminster Bridge Road, a 19-storey student housing-led scheme in Waterloo, Central London.

The site is located on Westminster Bridge Road next to County Hall, Waterloo Station and the South Bank, with views across the river to the Houses of Parliament and within walking distance of a number of London’s universities.

The development will feature over 1,100 student beds and other ancillary accommodation including a gym, swimming pool, café and landscaped gardens.