Pricoa finances UK student housing portfolio with €177m loan

Pricoa Mortgage Capital has granted a €177 mln loan to GCP Student Living for a student accommodation portfolio in London.

The fixed-rate loan with a nine-year term will be used to finance a portfolio of five properties located in London and Greater London, totaling over 1,700 units.

Pricoa Mortgage Capital is the commercial mortgage lending business of US-based Prudential Financial.

'We are delighted to support GCP Student Living's dual goals of continued asset expansion and sustainable income returns for their investors, securing long term fixed rate finance across their portfolio,' said David Gingell, director of European originations at Pricoa Mortgage Capital.

Chalkhill Partners advised GCP Student Living on the transaction.